Barclays lowered the firm’s price target on DraftKings (DKNG) to $50 from $60 and keeps an Overweight rating on the shares as part of a Q1 preview for the gaming sector. Underlying gaming markets are “generally behaving resiliently,” but a protracted economic slowdown will hurt Las Vegas more than regionals and digital, the analyst tells investors in a research note. The firm says the Macau segment “looks closest to de-risked.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DKNG:
- New Jersey reports March total gaming revenue $546.1M, up 3.7%
- New Jersey reports February total gaming revenue $546.1M, up 3.7%
- DraftKings: Strong Fundamentals and Growth Potential Justify Buy Rating Despite Temporary Setbacks
- DraftKings price target lowered to $60 from $63 at Jefferies
- DraftKings price target lowered to $61 from $62 at Guggenheim