DraftKings price target raised to $60 from $56 at UBS

UBS raised the firm’s price target on DraftKings to $60 from $56 and keeps a Buy rating on the shares. The company’s better than expected Q1 earnings showed continued improving structural hold and unit economics across its existing business, the analyst tells investors in a research note. Given DraftKings’ improvement in customer engagement and retention, the firm increased estimates post the earnings report.