Exane BNP Paribas earlier today upgraded DraftKings to Neutral from Underperform with a price target of $35, up from $33. The firm is “encouraged “by DraftKings’ “resilient” market share and recent positive customer acquisition dynamics, as well as its “penchant for beating and raising guidance.” The analyst sees an improved near-term outlook for DraftKings but still has concerns around the company meeting its profit margin forecasts amid rising domestic taxes. The stock in morning trading is up 1% to $36.58.
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