DraftKings price target raised to $55 from $45 at Truist

Truist raised the firm’s price target on DraftKings to $55 from $45 and keeps a Buy rating on the shares after its Q4 earnings beat. The Street will likely take time to digest the potential for Jackpocket acquisition, with minimal impact expected in 2024 before a more sizable contribution in 2026 and beyond, the analyst tells investors in a research note. Truist further cites the company’s continued execution while noting that the management’s earnings call commentary was positive amid continuing momentum.