DraftKings price target lowered to $33 from $44 at Susquehanna

Susquehanna lowered the firm’s price target on DraftKings (DKNG) to $33 from $44 and keeps a Positive rating on the shares. The firm believes the company remains an AI winner as online gambling operators operatein a highly regulated industry that we think creates a defensible moat versus just a software layer between users and the product. The company’s higher prediction markets spend arrives at a time when investor trust/conviction is in short supply especially for a product where traction won’t be assessed until 2H26.