Truist has revised its price target for DraftKings (DKNG, Financial), reducing it from $60 to $50 while maintaining a Buy rating on the stock. This adjustment reflects a recalibration of expectations due to prevailing uncertainties surrounding tariffs, which have prompted a more conservative outlook on the company's future prospects.
Despite this price target reduction, Truist continues to view the gaming sector, in which DraftKings operates, as one of the most promising within the consumer industry. The firm believes that gaming possesses favorable attributes that could allow it to outperform other segments in a challenging market environment.
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 $55.25 with a high estimate of $75.00 and a low estimate of $35.00. The average target implies an upside of 65.07% from the current price of $33.47. 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 79.98% from the current price of $33.47. 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.
