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DraftKings Favored By Analyst, Even If ESPN Bet Tops Chart: 'Unlikely To Change Industry's Competitive Intensity'

Benzinga ·  11/21/2023 06:10

Sports betting platform DraftKings Inc (NASDAQ:DKNG) gets continued praise from an analyst, despite competition from ESPN Bet.The DraftKings Analyst: Needham analyst Bernie McTernan has a Buy rating and a price target of $50 on DraftKings.The Analyst Takeaways: PENN Entertainment's (NASDAQ:PENN) ESPN Bet is a concern for DraftKings, but McTernan isn't too concerned."We believe the new customer promotions is roughly in-line with the industry and therefore do not expect a change to the benign competitive environment," McTernan said of ESPN Bet.Penn Entertainment licenses the ESPN brand from The Walt Disney Company (NYSE:DIS

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