DraftKings’ stock has nearly tripled this year — and it just won a new fan

Wells Fargo analyst Daniel Politzer and his team “hate” upgrading a stock that’s risen about 180% so far this year, but they don’t want to miss out on a potential further rally in DraftKings Inc. shares, either.

See... Wells Fargo analyst Daniel Politzer and his team “hate” upgrading a stock that’s risen about 180% so far this year, but they don’t want to miss out on a potential further rally in DraftKings Inc. shares, either. See also: DraftKings ‘hits it out of the park’ with strong Q2 results, is primed for growth, analysts say

Politzer sees a path for DraftKings to deliver $1 billion in adjusted Ebitda in 2025. The company “is on the precipice of a major Ebitda inflection,” he wrote, as it’s poised to benefit from structural hold improvements, shorter payback periods, industry growth and consolidation and a pullback in promotional expenses across the broader landscape.

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