Argus analyst John Staszak raised the firm’s price target on DraftKings to $40 from $34 and keeps a Buy rating on the shares. The firm sees the company’s revenue rising to $3.2B in 2023 from $2.2B in 2022 as more states legalize online sports betting, the analyst tells investors in a research note. Declining customer acquisition costs also bode well for the company’s long-term growth, and Argus sees DraftKings registering its first profitable quarter in Q2 of 2024, the firm added.
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