DraftKings price target lowered to $44 from $50 at Canaccord

Canaccord lowered the firm’s price target on DraftKings (DKNG) to $44 from $50 and keeps a Buy rating on the shares. The firm said they reported solid Q4 results, although the stock’s sell-off continued after-hours following disappointing FY26 guidance. Favorable sport outcomes bolstered OSB results during the quarter, and handle grew 4% year-over-year in January, with management noting that there was only a modest impact to engagement from prediction markets that is primarily from lower-value customers, resulting in an immaterial impact to revenue.