DraftKings Inc. (NASDAQ:DKNG) is one of the 10 best large cap stocks under $30 with highest upside potential.
On May 21, following a comprehensive credit card data review of approximately 9 million users, Morgan Stanley updated its stance on the digital gaming sector
Analyst Stephen Grambling stated that the data shows very little transaction overlap between Kalshi and the sports betting giants such as DraftKings Inc. (NASDAQ:DKNG). The firm believes this separation proves that entering prediction markets will capture new demographics and grow the total addressable market. Additionally, higher deposit frequencies indicate ongoing growth in current markets, running counter to the standard industry maturation narrative.
Consequently, the firm maintained its Overweight ratings on the stock, forecasting room for upside revisions and valuation rerating as the company is well-reputed for introducing proprietary prediction market products. On May 11, Northland raised its price target on DraftKings Inc. (NASDAQ:DKNG) from $24 to $27 while maintaining a Market Perform rating on the shares. The firm noted that early traction has yielded promising results, which prompted the upward adjustment in price target.