BofA raised the firm’s price target on DraftKings to $40 from $38 and keeps a Buy rating on the shares after its Q3 beat came with 2024 guidance above expectations. The firm believes DraftKings “exceeded a high bar across all metrics,” especially for 2024 guidance, and calls “the big takeaway” from the report the company’s accelerating operating leverage.
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Read More on DKNG:
- DraftKings (NASDAQ:DKNG): Roll the Dice on a Speculative Growth Stock
- DraftKings price target raised to $46 from $42 at Canaccord
- DraftKings Stock (NASDAQ:DKNG) Gains on Strong Q3 Results
- DraftKings sees FY24 revenue $4.5B-$4.8B, consensus $4.29B
- DraftKings raises FY23 revenue view to $3.67B-$3.72B from $3.46B-$3.54B