Morgan Stanley raised the firm’s price target on DraftKings to $38 from $36 and keeps an Overweight rating on the shares. The firm is raising FY24/25 revenue estimates about 5% and raising its FY24 EBITDAR estimate about 5% after the company’s “solid” Q3 results and it’s above consensus 2024 guidance. The firm believes DraftKings “remains one of the best idiosyncratic growth stories within consumer despite a choppy economic environment,” the analyst added.
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Read More on DKNG:
- DraftKings price target raised to $39 from $37 at Wells Fargo
- DraftKings price target raised to $44 from $40 at Oppenheimer
- DraftKings price target raised to $43 from $41 at Citi
- DraftKings price target raised to $39 from $37 at JPMorgan
- DraftKings price target raised to $35 from $31 at Barclays
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