Barclays has revised its price target for DraftKings (DKNG, Financial), reducing it from $60 to $50 while maintaining an Overweight rating for the stock. This adjustment comes as part of a preview of the first quarter for the gaming industry.
The bank's analysis suggests that while most gaming markets are showing strong resilience, the continued economic slowdown presents more risks for Las Vegas compared to regional and digital sectors. It notes that the Macau market appears to have mitigated many of its risks, positioning it closely to stability.
Despite these macroeconomic pressures, Barclays continues to hold a positive outlook on DraftKings, reflected in its maintained Overweight rating, suggesting confidence in the company's potential performance amidst sector challenges.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 33 analysts, the average target price for DraftKings Inc (DKNG, Financial) is $55.92 with a high estimate of $75.00 and a low estimate of $35.00. The average target implies an upside of 72.36% from the current price of $32.44. More detailed estimate data can be found on the DraftKings Inc (DKNG) Forecast page.
Based on the consensus recommendation from 34 brokerage firms, DraftKings Inc's (DKNG, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for DraftKings Inc (DKNG, Financial) in one year is $60.24, suggesting a upside of 85.7% from the current price of $32.44. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the DraftKings Inc (DKNG) Summary page.
