DraftKings price target raised to $60 from $58 at Needham

Needham raised the firm’s price target on DraftKings to $60 from $58 and keeps a Buy rating on the shares. The company’s Q1 results show strength in its execution both on the topline and customer acquisition driven by its scale and technology advantages relative to smaller competitors, the analyst tells investors in a research note. Needham maintains its vew that DraftKings is among the best secular profitable growth stories in its coverage.