Rothschild & Co Redburn lowered the firm’s price target on DraftKings (DKNG) to $35 from $37 and keeps a Neutral rating on the shares. The firm cut estimates in the gambling space, saying Q4 state data suggests operators will see a revenue miss. It expects a moderation in revenue growth in 2026, but says the World Cup should underpin online sports betting growth. The year-to-date share selloffs “appear to more than price in the slowing growth and, with US divisions priced on at-maturity valuations,” the analyst tells investors in a research note.
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