#6 - DraftKings (NASDAQ:DKNG)
Another stock that addresses the income side of the equation and may benefit as student loan payments resume is DraftKings, Inc. (NASDAQ: DKNG). Investors may find sin stocks polarizing. But the opportunity in this sector is one that investors shouldn't quickly ignore.
In 2023, sports betting revenue is likely to exceed all prior years. That's not surprising as every year more states legalize sports betting. That number currently stands at 31 states. However, that number will assuredly increase with the potential tax benefits for state and local governments.
And for individuals looking to increase their income potential, sports betting is an option that investors should keep an eye on. Among sports betting stocks, DraftKings is a popular option. In late September 2023, JPMorgan Chase & Co. (NYSE: JPM) gave DKNG stock an Overweight rating with a $37 price target. That's higher than the consensus estimates of around $33 per share.
About DraftKings
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.
More- Current Price
- $42.24
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $50.92 (20.6% Upside)
