to run to $75<\/a> or double over the next several years.<\/p>\n<\/div>\nEven the $60 projection far outpaces the Wall Street consensus of $46.44. With Rosenblatt joining the party, 11 analysts now cover DraftKings \u2013 nine with the equivalents of \u201cbuy\u201d and \u201cstrong buy\u201d ratings and two with \u201cneutral\u201d grades.<\/p>\n
Coronavirus Concerns<\/h2>\n
Another reason for the slide in DraftKings stock this week is an uptick in coronavirus cases, which threatens to delay the return of some professional sports.<\/p>\n
Florida, where the NBA is slated to resume its season next month, is one of the states hardest hit by the second wave of the pandemic. California and Texas, the two largest states and homes to dozens of professional franchises across all four major US leagues, are also experiencing spikes in daily COVID-19 case counts.<\/p>\n
The second round of cases is also stoking uncertainty regarding the fate of college football in 2020 and whether or not the NFL will start on time. Football is the most-bet sport in the US, and scrapping either the college or pro seasons would be a drag on online sports betting equities, including DraftKings.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Even while it’s experiencing its worst week as a publicly traded company, DraftKings (NASDAQ:DKNG) continues luring bullish commentary from sell-side analysts. Rosenblatt Securities is launching coverage of the sportsbook operator with a \u201cbuy\u201d rating and a Wall Street high price forecast of $60. The research firm announced the initiation and price projection Thursday after the […]<\/p>\n","protected":false},"author":46,"featured_media":140011,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\n
DraftKings Rings Up Highest Price Target Yet at $60 From Rosenblatt<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n