DraftKings price target lowered to $28 from $32 at Bernstein

Bernstein lowered the firm’s price target on DraftKings (DKNG) to $28 from $32 and keeps an Outperform rating on the shares post the earnings report. The company’s “reset” and “soft” guidance “left something to be desired for investors demanding high visibility on near-term returns,” the analyst tells investors in a research note. The firm updated DraftKings’ model to reflect incremental predictions spend as well as by modestly softer handle growth expectations in the first half of 2026.