Benchmark analyst Mike Hickey raised the firm’s price target on DraftKings to $41 from $37 and keeps a Buy rating on the shares following the company’s analyst day, citing the company’s “strong business momentum” and industry leadership in U.S. online gaming. Growth in the market, along with DraftKings’ efficient scaling and robust performance in existing states, boosts the firm’s confidence in the company’s future performance and higher AEBITDA projections, the analyst tells investors.
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