DKNG Stock Price: $60 Target (From $48) By Truist

By Amit Chowdhry ● Jan 15, 2021
  • The stock price of DraftKings Inc (NASDAQ: DKNG) has received a price target of $60 from $48 by Truist. These are the details.

The stock price of daily fantasy sports contest and sports betting company DraftKings Inc (NASDAQ: DKNG) has received a price target of $60 from $48 by Truist. And Truist analyst Barry Jonas is maintaining a “Hold” rating on DraftKings

Jonas noted that the Q4 results for the industry may be soft, but vaccine distribution should ramp up over the next few quarters. This would open up a “tidal wave” of demand for in-person social engagement and experiences.

Truist is not the only brokerage to increase its price target on DraftKings this week. Craig-Hallum analyst Ryan Sigdahl increased the price target of DraftKings from $60 to $65. And Sigdahl is maintaining a “Buy” rating on the shares.

Disclosure: I have a small DKNG position in my stock portfolio.