DraftKings price target raised to $23 from $20 at Roth MKM

Roth MKM raised the firm’s price target on DraftKings to $23 from $20 but keeps a Sell rating on the shares. The company is benefiting from a lull in competition after non-FanDuel competitors reduced customer acquisition efforts since the second half of last year, but the firm also sees little prospects for meaningful state launches and difficult market share comps in the second half of 2023, the analyst tells investors in a research note.