JMP Securities lowered the firm’s price target on DraftKings (DKNG) to $50 from $52 and keeps an Outperform rating on the shares. During the current NFL season, bettors experienced one of the most favorable winning percentages for outright favorites in history, nearly historically bad for sportsbooks, the analyst tells investors in a research note. Operators, such as DraftKings, held unlucky in Q4, and JMP believes the company will miss guidance and consensus estimates for the quarter, representing four revenue misses in the last five quarters. Despite a turbulent 2024, DraftKings remains in a favorable position to beat and raise in 2025, the firm says.
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