DraftKings price target raised to $53 from $50 at Benchmark

Benchmark raised the firm’s price target on DraftKings (DKNG) to $53 from $50 and keeps a Buy rating on the shares after Q2 revenue and AEBITDA both exceeded consensus estimates. Management reiterated full-year revenue and AEBITDA guidance, noting that they expect to finish at the high end of the revenue range and the midpoint of the AEBITDA range, the analyst noted.