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Barchart

Wajeeh Khan

This Analyst Just Cut Their Rating on DraftKings Stock. Here's Why.

DraftKings DKNG MoffettNathanson

MoffettNathanson analysts led by Robert Fishman have downgraded Boston-headquartered DraftKings (DKNG) to “Neutral,” cutting their price objective sharply to $27.

According to them, attractive valuations on conservative long-term forecasts are not sufficient anymore to justify a buy recommendation, especially after DKNG’s recent slip below its 50-day MA.

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