Stifel ups DraftKings target, removes from ‘Select List’

Stifel analyst Jeffrey Stantial raised the firm’s price target on DraftKings (DKNG) to $57 from $48 and keeps a Buy rating on the shares. The post-Q4 share outperformance reflects DraftKings’ positive commentary on Q1-to-date re-acceleration, the Q4 adjusted EBITDA beat, and 1% fiscal 2025 revenue guidance raise, which were all amplified given the conservative positioning into the print, the analyst tells investors in a research note. Stifel, however, removed the shares from its “Select List.” Better buying opportunities could emerge later following the recent share rally, contends the firm.