Tiger Brokers

Update: Morgan Stanley Cuts Price Target on DraftKings to $40 From $53, Keeps Overweight Rating

MT Newswires Live
2 hours ago

(Updates with the analyst's commentary.)

Morgan Stanley lowered its price target on DraftKings (DKNG) to $40 from $53 while maintaining its overweight rating as Q4 results beat its expectations "across board" but 2026 forecast "pegged below on weaker rev[revenue] growth."

Morgan Stanley said its 2026 estimates for the company are "modestly above guidance and consensus."

The brokerage said it now expects a 2026 handle growth of about 6% for DraftKings and a revenue of about $7 billion, down from Morgan Stanley's previous forecast of about $7.27 billion.

DraftKings has an average rating of buy and mean price target of $35.71, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 21.92, Change: +0.11, Percent Change: +0.48

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