DraftKings price target raised to $65 from $55 at Oppenheimer

Oppenheimer raised the firm’s price target on DraftKings (DKNG) to $65 from $55 and keeps an Outperform rating on the shares after reiterating 2025 EBITDA guidance that appears more achievable following January/February holds of 11%/13, that the firm sees quelling risk management concerns and better positioning stock into a core-holding. Oppenheimer believes enacted tax increases take 12-18 months to mitigate but reduces competition.