DraftKings initiated with a Hold at Stifel

Stifel analyst Jeffrey Stantial initiated coverage of DraftKings with a Hold rating and $15 price target. Shares "effectively round-tripped" back close to initial $10 per share levels after significant outperformance in 2020, which seemingly discounts DraftKings’ considerable long-term growth prospects, the firm said. However, profitability remains several quarters away, and the firm sees risk of market share compression as DraftKings rationalizes customer acquisition spending, it tells investors.