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Benzinga
Benzinga
Business
Chris Katje

DraftKings, Flutter Stocks Downgraded On Prediction Market Risk: 'Relentless Headwinds'

Sports betting

Bank of America Securities analyst Shaun C. Kelley downgraded both DraftKings Inc (NASDAQ:DKNG) and Flutter Entertainment (NYSE:FLUT) ahead of their upcoming earnings reports, citing mounting challenges in the sports betting sector.

The Sports Betting Analyst: Kelley downgraded DraftKings stock from Buy to Neutral and lowers the price target from $48 to $35.

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