DraftKings price target raised to $22 from $16 at Wells Fargo

Wells Fargo raised the firm’s price target on DraftKings to $22 from $16 and keeps an Equal Weight rating on the shares. The company’s Q4 report was solid and management is highly focused on accelerating its profitability path., the analyst tells investors in a research note. However, the firm stays neutral rating on valuation given the stock’s recent outperformance.