BTIG raised the firm’s price target on DraftKings to $39 from $34 and keeps a Buy rating on the shares after its better than expected Q2 results. The business is scaling at a fast pace with over 1200bps of GGR share from last year thanks to strong player retention, improving per caps, and more of the product driving those advancements developed in-house, the analyst tells investors in a research note.
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Read More on DKNG:
- DraftKings price target raised to $42 from $38 at Canaccord
- DraftKings price target raised to $37 from $32 at Benchmark
- DraftKings Stock (NASDAQ:DKNG) Jumps on Beat-and-Raise Results
- DraftKings jumps 10% to $33.10 after Q2 earnings beat, guidance raise
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