Tiger Brokers

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

MT Newswires Live
1 hour 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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10