Northland analyst Greg Gibas raised the firm’s price target on DraftKings to $38 from $36 and keeps an Outperform rating on the shares after the company reported Q3 revenue and EBITDA that surpassed expectations, accompanied by increased 2023 guidance and 2024 guidance “set well ahead of consensus estimates.” The firm’s increased price target reflects increased customer engagement and retention, easing promotional intensity, and 2024 guidance upside, the analyst tells investors.
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