Truist raised the firm’s price target on DraftKings (DKNG) to $60 from $50 and keeps a Buy rating on the shares. The company overcame hold-related weakness and posted a solid quarter as its business continues its ramp, and with a strong start to 2025, the firm believes that the unchanged EBITDA guidance could prove conservative as the management could be airing on the side of caution following a tumultuous end to 2024, the analyst tells investors in a research note. DraftKings remains the best pure-play for digital gaming, the firm adds.
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