DraftKings price target raised to $30 from $28 at Canaccord

Canaccord raised the firm’s price target on DraftKings to $30 from $28 and keeps a Buy rating on the shares after the company reported Q4 revenue and profitability "well ahead" of consensus forecasts. The company is seeing states reach positive contribution profit faster than originally anticipated, noted the firm, which said it is "encouraged" by DraftKings’ ability to deliver cost savings and operational efficiency without sacrificing revenue growth.