DraftKings price target lowered to $45 from $50 at Truist

Truist lowered the firm’s price target on DraftKings (DKNG) to $45 from $50 and keeps a Buy rating on the shares. The company lowered its 2025 guidance as the hold pendulum keeps on swinging while there’s also incremental spend on Draftkings Predictions offering, even though there’s still uncertainty how state regulators will respond, the analyst tells investors in a research note.