TD Cowen analyst Stephen Glagola lowered the firm’s price target on DraftKings to $35 from $37 and keeps an Outperform rating on the shares. The firm said they are cautious into the print on elevated promotion expense, difficult compares, and expect a conservative Q4 guide with ESPN Bet launching.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DKNG:
- Options Volatility and Implied Earnings Moves This Week, October 30 – November 03, 2023
- Bet On It: Supreme Court allows Florida to offer sports betting, no timeline set
- Citi opens ‘positive catalyst watch’ on DraftKings into investor day
- SNOW, WIX, DKNG: 3 “Strong Buy” Tech Stocks with 30%+ Upside Potential
- DraftKings price target lowered to $38 from $39 at BTIG