Mizuho raised the firm’s price target on DraftKings to $62 from $54 and keeps an Outperform rating on the shares. The firm sees upside to DraftKings’s EBITDA guidance in the context of a market that is concerned about the company attaining the stated targets. DraftKings’ long-term earnings power is underappreciated, with greater operating leverage than is understood, the analyst tells investors in a research note. Mizuho believes the market is overly focused on quarter-to-quarter variations “and potentially missing a larger, more powerful, story.” As such, it added DraftKings to its “Top Picks list.”