DraftKings price target raised to $50 from $48 at Susquehanna

Susquehanna raised the firm’s price target on DraftKings to $50 from $48 and keeps a Positive rating on the shares. The firm believes its Q3 revenue and EBITDA loss estimates are safe and sees potential upside coming from a “likely” higher parlay mix, stronger than expected user growth, and favorable calendar shift where 15 more NFL games occurred in 3Q24 year-over-year.