Guggenheim lowered the firm’s price target on DraftKings (DKNG) to $61 from $62 and keeps a Buy rating on the shares. The firm updated its model and lowered estimates to account for Q1 outcome headwinds in the back half of the quarter, predominantly associated with the strong run made by heavy favorites during the Men’s NCAA Tournament, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DKNG:
- Craig-Hallum revising Q1 estimates for DraftKings, remains bullish long-term
- Consensus forms for California sports betting legalization, Casino Reports says
- DraftKings price target lowered to $57 from $60 at Citizens JMP
- Nevada reports February statewide gaming win down 9.28% to $1.217B
- DraftKings call volume above normal and directionally bullish