Susquehanna lowered the firm’s price target on DraftKings (DKNG) to $48 from $59 and keeps a Positive rating on the shares. The firm noted shares moved higher following its Q3 earnings where they continue to think the stock bottomed, considering the CEO’s clear explanation that offset an over-reaction of investor fear on the impact of exchanges and that state legislators not just regulators are aware of the impacts of federal liberalization; higher chances of OSB/iCasino legalization and lower risk of tax increases.
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Read More on DKNG:
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