DraftKings price target raised to $42 from $38 at Jefferies

Jefferies raised the firm’s price target on DraftKings to $42 from $38 and keeps a Buy rating on the shares. The continued revenue and earnings acceleration suggest that further upside in the shares remains, the firm says. Most notable in support of this view is the increasing productivity in mature states, which continue to generate revenue and profit growth, Jefferies adds. With the highest volume NFL season forthcoming, the firm thinks the positive momentum in estimates and the shares continues.