DraftKings price target lowered to $51 from $52 at BTIG

BTIG lowered the firm’s price target on DraftKings (DKNG) to $51 from $52 and keeps a Buy rating on the shares. The company reported Q1 results that slightly missed BTIG’s recently trimmed estimates with a 2025 guidance cut to reflect historically bad March Madness performance, the analyst tells investors in a research note. The firm moved forecasts lower to reflect those outcomes and a tempered structural hold outlook.