Canaccord lowered the firm’s price target on DraftKings (DKNG) to $54 from $60 and keeps a Buy rating on the shares. The firm said DraftKings reported soft Q3 results, with total revenue and adj. EBITDA both below what were already lowered expectations. Canaccord said the biggest takeaway is that DraftKings does in fact plan on offering sports events contracts at launch, limited to states where it does not currently operate its OSB platform.
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