Argus analyst John Staszak lowered the firm’s price target on DraftKings to $40 from $54 but keeps a Buy rating on the shares. Reflecting the legalization of online sports betting in additional states, the firm expects the company’s revenue to jump to $5.1B in 2024 vs. its prior view of $4.7B while noting that declining customer acquisition costs bode well for long-term growth, the analyst tells investors in a research note. Argus is also narrowing its 2024 EPS loss view to (4c) from (10c) and raising its FY25 EPS view to 88c from 80c.
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