TD Cowen lowered the firm’s price target on DraftKings (DKNG) to $53 from $55 and keeps a Buy rating on the shares. The firm said DraftKings missed 1Q expectations due to customer-friendly outcomes, but underlying metrics remain strong. 2025 guidance was lowered by $100 million across the board though we see upside from actual hold improvement, promo efficiency, and internal tech capabilities.
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