Jefferies lowered the firm’s price target on DraftKings (DKNG) to $53 from $60 and keeps a Buy rating on the shares. The firm’s “conservative” Q2 estimates are mostly unchanged, but it is trimming its second half view for DraftKings on tax headwinds from states including New Jersey, Louisiana, Illinois and Maryland, the analyst tells investors in a Q2 preview for the gambling group. Ahead of earnings, the firm reiterates a “bullish view on the online gaming sector,” the analyst added.
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