DraftKings price target raised to $57 from $48 at Stifel

Stifel raised the firm’s price target on DraftKings (DKNG) to $57 from $48 and keeps a Buy rating on the shares. Post-earnings outperformance reflects a Q4 adjusted EBITDA beat, positive commentary on Q1-to-date re-acceleration and a 1% FY25 revenue guidance raise, the analyst tells investors. The firm thinks its “FY25 beat & raise thesis” is still intact, with catalysts as soon as Q1 earnings, the analyst added.