DraftKings price target raised to $55 from $52 at MoffettNathanson

MoffettNathanson raised the firm’s price target on DraftKings to $55 from $52 and keeps a Buy rating on the shares. The firm attributes a selloff in shares yesterday to three online gaming topics that were separately reported: federal scrutiny over VIP program, a potential NCAA player prop ban and regulators exploring raising New Jersey online gaming tax rates. However, while acknowledging these risks, the analyst notes that the firm hd the opportunity to meet with DraftKings’ CFO Jason Park and says that the firm expects DraftKings and FanDuel to retain or even grow market share going forward.