Truist analyst Barry Jonas raised the firm’s price target on DraftKings to $23 from $15 but keeps a Hold rating on the shares. The company’s Q4 results were "strong" and its guidance reflects the management’s hyper-focus on the path to profitability, the analyst tells investors in a research note. Truist adds however that while there is "a lot to like" about DraftKings, the stock’s positives may be "priced into recent outperformance".
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