DraftKings price target lowered to $59 from $62 at Mizuho

Mizuho lowered the firm’s price target on DraftKings (DKNG) to $59 from $62 and keeps an Outperform rating on the shares. The firm reduced EBITDA estimates for 2025 largely on low hold experienced in Q1. However, it views hold as a “transitory variable,” having no impact on Mizuho’s longer term valuation of the stock. However, it will be a significant headwind in Q1, the analyst tells investors in a research note.