Evidently unconcerned by record levels of Kalshi trading volume around a Monday Night Football doubleheader, one analyst was placing a “Buy” rating on DraftKings. Jefferies Equity Research boffin David Katz shared his views in a 30 September investor note.
Katz put a US$54-per-share price target on DraftKings after a Tuesday selloff of the stock. It was trading at US$37.40 apiece at the time of his report.
The analyst reassured investors that “we do not believe the economics of prediction markets are nearly comparable to [online sports betting], with the product and technology also not comparable.” Katz felt that OSB and prediction markets could prosper alongside each other.
