2 Sports Betting Stocks Wall Street Predicts Will Rally More Than 50%

The U.S. sports betting industry has been growing quickly since the worst of the COVID-19 pandemic because the remote lifestyle drove people to engage in online sports betting. More than 30 states in the…

U.S. have legalized sports betting post the removal of the federal ban on sports wagering in 2018. Last year, the U.S. commercial gaming industry reached a record of $53 billion in revenue, according to American Gaming Association (AGA).

Concerns revolving around the Fed’s hawkish monetary stance and Russia’s invasion of Ukraine have triggered selloffs in some sports betting stocks. However, with advanced technological innovation and favorable government policies, the sports betting industry is expected to rebound soon. Thus, Wall Street analysts are bullish on the sports betting companies with solid fundamentals.

Given the backdrop, Wall Street analysts expect quality sports betting stocks Caesars Entertainment, Inc. (CZR – Get Rating) and DraftKings Inc. (DKNG – Get Rating) to rally more than 50% in price in the coming months.

Caesars Entertainment, Inc. (CZR – Get Rating)

CZR in Las Vegas operates as a gaming and hospitality company in the U.S. The company operates casinos, dining venues, bars, nightclubs, hotels, and entertainment venues. CZR provides staffing and management services, and online sports betting and iGaming services. It owns, leases, and manages more than 52 domestic properties in 16 states.

On March 9, 2022, CZR launched Caesars Sportsbook, a sport wagering mobile app that is available for download and registration throughout Illinois. This sports wagering product might extend CZR’s consumer reach and boost its business growth.

On Feb. 11, 2022, CZR announced the expansion of Caesars Sportsbook to Washington state by partnering with three casinos. This expansion is expected to expand CZR’s customer base and boost its revenue streams.


In its fiscal year 2021 fourth quarter, ended Dec. 31, 2021, CZR’s net revenues increased 63.5% year-over-year to $2.59 billion. The company’s operating income rose 344% year-over-year to $122 million. CZR’s adjusted EBITDA increased 67% from the year-ago value to $581 million.

The $2.38 billion consensus revenue estimate for its fiscal year 2022 first quarter, ending March 2022 represents a 40% year-over-year growth.

Over the past year, CZR stock has slumped 21.1% in price. However, every one of the 12 Wall Street analysts that rated CZR rated it Buy. The 12-month median price target of $119.50 indicates a 54% potential upside from yesterday’s closing price of $77.59. The price targets range from a low of $100.00 to a high of $183.00.

DraftKings Inc. (DKNG – Get Rating)

DKNG is a Boston-based digital sports entertainment and gaming company that operates in the U.S. and internationally. The company operates through two segments: Business-to-Consumer; and Business-to-Business. DKNG provides online consumer products with fantasy sports, sports betting, and iGaming opportunities. DKNG distributes through various channels, including…


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