Bank of America upgrades DraftKings to Buy after 19% monthly decline

By SectorWire desk · 10 October 2026 · Updated 16 October 2026

Summary

Bank of America raised its DraftKings DKNG · USD 18.90 2026-10-16 Data rating from Neutral to Buy on 8 October. Analyst Shaun Kelley retained a $27 price target after shares fell 19% over a month. The bank said earnings expectations might be approaching a low and cited reduced cannibalisation risk from prediction markets.

Why it matters

Bank of America’s upgrade highlights potentially bottoming earnings expectations and reduced prediction market cannibalisation risk for DraftKings investors.

Entities and relations reported in this entry and our coverage.

Request a correction / right of reply

Connected stories

Linked through shared companies, regulators and people, or one step further through the graph.

15 OctRegulation

shares DraftKings

Nevada Gaming Control Board chair says no plan B if Supreme Court backs prediction markets

Nevada has no fallback plan if the Supreme Court sides with prediction market operators, leaving its stance uncertain.

12 OctDeals & M&A

shares DraftKings

Benzinga poll finds 17% expect prediction markets to displace DraftKings and Flutter

The poll gives investors divided expectations for DraftKings and Flutter, including adaptation, displacement and consolidation with prediction markets.

USA · DraftKings · Flutter · Kalshi · Polymarket

8 OctDeals & M&A

shares Bank of America