Jefferies bets on DraftKings as sports betting boom grows

Jefferies' David Katz on why the company gave DraftKings a 'buy' rating. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Steve Grasso and Bonawyn Eison.

Investors should buy DraftKings stock as the political landscape becomes more favorable for the gambling industry and sports betting picks up post Covid-19, an analyst at Jefferies said Monday.

Analyst David Katz initiated coverage of the sport-betting company with a buy rating and a price target of $55 per share. That target implies a 12-month upside of 30% from Friday’s close of $42 per share.

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