DraftKings price target raised to $38 from $35 at Jefferies

Jefferies analyst David Katz raised the firm’s price target on DraftKings to $38 from $35 and keeps a Buy rating on the shares. The firm is updating its estimates for current trends in GGR and expenses and notes its view is “now positioned above the widely dispersed consensus average although not Street-high.” As DraftKings “continues to solidify its leadership role” in the U.S., the data points and catalysts should remain positive and the positive momentum should continue, the analyst tells investors in a note ahead of earnings.