DraftKings investor day presentation ‘largely as expected,’ says Deutsche Bank

After DraftKings presented its outlook this morning at its annual investor days meeting, Deutsche Bank said the presentation was “largely as expected,” with management “telegraphing much of what was included in the presentation.” With the Q3 earnings beat and corresponding 2023 guidance raise, and now the analyst day, in the rear view mirror, the firm believes “the next question is the viability of out year forecasts,” says the analyst, who maintains a Hold rating and $31 price target on DraftKings shares.