Jefferies Top Growth Stocks to Buy Include 2 Red-Hot Sports Betting Winners
Increasingly, the Wall Street firms we cover are starting to agree that, while the future is still bright for the U.S. economy, it also may be one of much lower stock market gains than has been the norm over the past decade. When that is the case, then investing strategies often shift from indexing to a more disciplined stock-picking routine. That’s when investors need solid growth ideas.
Jefferies highlights its top growth stocks to buy each week, and this week is no exception. Like many on Wall Street, Jefferies analyst Aneta Markowska expects big-time 2021 gross domestic product prints. In fact, her projection is a stunning 6.4% GDP growth. So, adding some exciting growth stocks now makes sense for investors.
We found four that look like solid picks for more aggressive growth investors that all have significant catalysts to drive growth the rest of 2021 and beyond. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Caesars Entertainment
Shares of this well-known old-school gaming company offer solid upside. Caesars Entertainment Corp. (NASDAQ: CZR) provides casino-entertainment and hospitality services, primarily under the Harrah’s, Caesars, Horseshoe and Eldorado brand names.
Its facilities include gaming offerings, food and beverage outlets, hotel and convention space, and non-gaming entertainment options. Caesars Entertainment is one of the largest gaming companies in the world and currently owns or operates 50 casino properties in 13 states and in four other countries.
Also the largest casino company in the United States, Caesars Entertainment, recently bought a minority stake in fantasy sports platform, SuperDraft. Caesars has the option to increase its stake to 100% over time at predetermined levels. SuperDraft will join the Caesars online brands, which include World Series of Poker, Caesars Online Casino and William Hill, and it will become part of Caesars’ single wallet solution that allows members more options to play games both live and online.
Jefferies has an $85 price target on the shares, though the Wall Street consensus target is up at $89.92. Caesars Entertainment stock closed trading on Friday at $83.16 a share.
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DraftKings
The company became a huge favorite with younger people due to the surge in popularity of fantasy football. DraftKings Inc. (NASDAQ: DKNG) operates as a digital sports entertainment and gaming company. It provides users with daily sports, sports betting and iGaming opportunities. It also is involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook and casino gaming products.
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