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Technology Stocks : DraftKings, Inc. / Online Gambling -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (122)	9/9/2020 10:20:34 AM
From: sixty2nds	1 Recommendation Recommended By Glenn Petersen Read Replies (1) \| Respond to of 282

seekingalpha.com Huge bull call on DraftKings from Evercore ISI Sep. 9, 2020 10:08 AM ET\|About: DraftKings Inc. (DKNG)\|By: Clark Schultz, SA News Editor Evercore ISI starts off coverage on DraftKings ( DKNG +1.4%) with an Outperform rating on its view that shares are actually undervalued due to the company's long-term growth potential. Analyst Kevin Rippey: "Our call on DKNG is fairly straightforward, the market under appreciates the pull forward in US states’ plans to legalize online sports betting. The percentage of US citizens with access to online sports gambling is set to increase from 10% currently to more than 40% by the start of the 2022 NFL season. Our thesis is that this legislative acceleration will compound on DraftKings’ technology and customer acquisition cost advantages, leaving shares undervalued relative to near and long term growth potential." "Our 2022 revenue est. is already 25% above consensus, with material upside if any major toss up states legalize next year; by 2025, we see a path to nearly $900mn in EBITDA. Our $60 Target is based on 40x our 2025 Adj. EBITDA forecast discounted back at 8% to 2020." Wall Street analyst scorecard on DraftKings: 9 Buy-equivalent ratings, 5 Neutral-equivalent ratings, no Sell-equivalent ratings.