2023's the best 토토사이트
메이저토토사이트 is tracking other gaming equities in the early stages of 2023. But some on the sell side, while acknowledging a catalyst-rich story, are neutral on the online sportsbook operator.
In a note to clients late Monday, Stifel analyst Jeffrey Stantial initiated coverage of DraftKings with a “hold” rating and a $15 price target, implying only modest upside from today’s close at $14.56. He notes that while the gaming company has the potential to beat and raise its previously issued 2023 guidance, profitability remains a few quarters out.
The analyst doesn’t cite rivals by name, but Fanatics is lurking, recently entering the US sports betting arena and stoking speculation of promotional spending war in the process.
For DraftKings Stocks, Profitability Is of the Essence
With Fanatics likely profitable for the bulk of, if not all of 2022, and 토토사이트추천 to that benchmark, DraftKings needs to show analysts and investors it can halt its money-losing and generate positive earnings before interest, taxes, depreciation and amortization (EBITDA).
DraftKings is higher by 27.83%. But that rally could be threatened by a larger-than-expected interest rate increase by the Federal Reserve and/or a recession that pinches consumer discretionary spending.
Why 토토사이트 is the best
Stantial points out the possibility exists for multiple headwinds or tailwinds for DraftKings shares this year.
“Upside risks include: (1) faster than expected profitability, (2) new state expansion, (3) further supply exits, and (4) federal excise tax repeal. Downside risks include: (1) rising interest rates, (2) difficulty reaching profitability or margin targets, (3) new competitive supply, and (4) regulatory changes,” according to the Stifel analyst.
On the US regulatory front, industry consensus holds that only North Carolina and Vermont are likely to approve mobile sports wagering this year, 토토사이트 as the only possible large-scale surprise for sportsbook operators. But that’s a stretch. On the upside, Stantial says DraftKings trades at the low end of the historical valuation range for top-tier European sportsbook operators.
