Guggenheim lowered the firm’s price target on DraftKings (DKNG) to $45 from $55 and keeps a Buy rating on the shares. The firm has lowered its 2025 revenue and adjusted EBITDA estimates based on the company’s Q3 earnings and revised outlook, adding that it also expects new partnerships with NBCU and ESPN and the launching of DraftKings Predictions to weigh on 2026 results. However, it continues to believe DraftKings is well-positioned to capture a significant share of the rapidly growing North American online sports betting and iGaming markets.
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