DraftKings price target lowered to $34 from $38 at Citizens

Citizens lowered the firm’s price target on DraftKings (DKNG) to $34 from $38 and keeps an Outperform rating on the shares. March Madness was largely neutral for DraftKings, with limited upsets and softer-than-expected handle growth offset by stable margins and a revised 1Q26 EBITDA estimate of about $154M, keeping full-year guidance intact, the analyst tells investors in a research note. Looking ahead, Q2 stability, improved promotional discipline, seasonally strong parlay margins, and the World Cup are expected to shape performance, with tournament outcomes influencing both wagering growth and EBITDA, the firm says.