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Target (NYSE:TGT) are primed to be winners.
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Online dating is still heating up
Keith Noonan (Bumble): Dating app specialist Bumble had its initial public offering on Feb. 11, just in time for Valentine s Day. The stock exploded out of the gate, with shares surging roughly 63.5% in the company s first day of trading, bringing its market capitalization to about $8 billion.
Bumble s explosive start might raise the question about whether the stock has become too hot to handle. While investors should approach the stock with the understanding that trading could be volatile in these early days following the company s public debut, Bumble still has huge growth potential.
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The Analyst: Goldman Sachs analyst Stephen Grambling upgrades
DraftKings Inc (NASDAQ: DKNG) from Neutral to Buy and raises the price target from $45 to $65.
The analyst reiterates a Buy rating on
Penn National Gaming (NASDAQ: PENN) and raises the price target from $86 to $124.
The Analyst Takeaways: DraftKings and Penn National Gaming are two gaming stocks that have outperformed the S&P 500 in 2021. Grambling said this can continue as the two companies are market leaders in the still-emerging online sports betting industry.
“We upgrade DKNG based on their sustained market leading position in key states, ability to participate in the economics of single operator states, and presence of national contracts which will allow the to achieve scale sooner than the broader peer group,” Grambling wrote in a note.