Argus raised the firm’s price target on DraftKings (DKNG) to $55 from $45 and keeps a Buy rating on the shares. The firm we expects revenue to increase to $6.5B in 2025, driven by the legalization of online sports betting in additional states. The firm also sees tailwinds from market-share gains and greater customer retention and believes that declining customer acquisition costs “bode well for the company’s long-term growth.”
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