Bank of America analyst Julie Hoover says the year-to-date decline in DraftKings (DKNG) shares has baked in near-term headwinds, and the current valuation warrants some exposure to the online betting firm. Hoover upgraded DKNG to “Buy” this morning, with her $27 price target indicating potential upside of about 35% from current levels.
BofA’s bullish call brings a much-needed reprieve to DraftKings stock that was otherwise down a rather alarming 45% versus the start of this year.
