DraftKings price target lowered to $50 from $53 at Truist

Truist lowered the firm’s price target on DraftKings to $50 from $53 but keeps a Buy rating on the shares. The company reported a “rare” Q2 miss and cut guidance, de-risking estimates for the second half of the year as its management looks “well positioned” to execute towards its long-term targets, the analyst tells investors in a research note. Truist remains positive longer term, noting that DraftKings is still the “best pure-play for digital gaming”.