Rosenblatt sees DraftKings shares tripling in its bull case scenario

The DraftKings app and FanDuel website
Andrew Harrer | Bloomberg | Getty Images

DraftKings shares have been on fire this year and an analyst at Rosenblatt thinks the sport-betting company could surge much more if his bull case plays out.

Analyst Bernie McTernan said DraftKings could hit $130 per share in his most-optimistic scenario. That implies an upside of more than 260% from the stock's closing price of $36.07 on Thursday.