DraftKings price target raised to $23 from $15 at Barclays

Barclays analyst Brandt Montour raised the firm’s price target on DraftKings to $23 from $15 and keeps an Equal Weight rating on the shares. The analyst increased estimates post the Q4 results citing DraftKings’ progress across cost savings and product development initiatives. However, the firm views the stock’s valuation as fair at current levels.