Analysts Keep Positive on DraftKings Despite Cuts

Analysts remain broadly positive on sports-betting equities while trimming near-term targets for DraftKings. Citigroup, Oppenheimer and JMP each kept Buy/Outperform ratings on DraftKings while lowering targets to about $56, $55 and $51 respectively, and Benchmark reiterated a Buy with a $53 target, saying prediction markets like Kalshi are unlikely to meaningfully dent sportsbooks. Benchmark also kept a Buy on Flutter, citing FanDuel’s Week 3 New York results — double-digit handle growth, a 24% rise in gross gaming revenue and elevated hold, with FanDuel holding roughly 35% of handle and about 42% of GGR. JMP reiterated Market Outperform on Caesars and noted strategic moves such as FanDuel’s market-access partnership with Delaware North. DraftKings shares recently closed near $37.40, leaving analyst targets implying upside despite trimmed forecasts.