BTIG lowered the firm’s price target on DraftKings (DKNG) to $42 from $45 and keeps a Buy rating on the shares. The company’s Q3 results topped the firm’s below-consensus/buy-side expectations as a result of less substantial results headwinds and flow-through dynamics matching its original assumptions, the analyst tells investors in a research note. Numbers and expectations are getting close to a reset in absence of incremental November-December results headwinds, and the company is also addressing the competitive narrative, the firm added.
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