DraftKings shares are trading lower after Truist Securities maintained a Buy rating on the stock and lowered its price target from $55 to $53. Also, Macquarie maintained an Outperform rating on the stock and lowered its price target from $54 to $52.
Portfolio Pulse from Benzinga Newsdesk
DraftKings shares are trading lower after Truist Securities and Macquarie both maintained positive ratings but lowered their price targets.
July 18, 2024 | 7:31 pm
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NEGATIVE IMPACT
DraftKings shares are trading lower after Truist Securities maintained a Buy rating and lowered its price target from $55 to $53. Macquarie also maintained an Outperform rating and lowered its price target from $54 to $52.
The lowering of price targets by both Truist Securities and Macquarie, despite maintaining positive ratings, suggests a tempered outlook on DraftKings' near-term performance. This has led to a negative market reaction, causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100