Citi kept a Buy rating on DraftKings with a $41 price target following a transition of coverage. The firm sees scope for DraftKings to raise its long-term adjusted EBITDA target at its upcoming investor day on November 14 and believes this upside may not be fully reflected in the shares. As such, Citi would be buyers of DraftKings heading into the event and opened a “30-day positive catalyst watch.”
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