BUZZ-Draftkings slips as Argus downgrades to 'hold'
Reuters03-17 21:15
BUZZ-Draftkings slips as Argus downgrades to 'hold'
** Shares of digital sports gaming company Draftkings DKNG.O slip 1% in premarket trading to about $25
** Argus downgrades to "hold" from "buy", maintains PT at $24.90
** Says DKNG struggling with high costs to attract customers, rising state taxes, and tough competition from prediction markets
** Adds DKNG is losing market share in iGaming in the U.S
** Argus lowers its 2026 EPS estimates to $1.20 from $2.30
** 29 of 38 brokerages rate the stock "buy" or higher, 9 "hold" ; their median PT is $35- data compiled by LSEG
** As of last close, stock had fallen 27.8% YTD
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))
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