DraftKings price target raised to $17 from $15 at Stifel

Stifel analyst Jeffrey Stantial raised the firm’s price target on DraftKings to $17 from $15 and keeps a Hold rating on the shares ahead of the company reporting Q4 earnings after the close on February 16. Based on its analysis of state reported sports betting and iCasino data, solid late-quarter hold implies a Q4 beat is likely, the analyst tells investors. Top-line trends in Q1-to-date appear mixed, though the firm’s checks suggest market-wide promotional and marketing behavior "continues to trend towards more rational levels," but adds that much of this is likely well understood. Expectations for upside adds risk heading into the quarter, Stifel said.