Stifel Lowers DraftKings Price Target to $40, Flags Promotion Costs and Regulatory Risks
Stifel reduced its price target on DraftKings Inc. to $40 from $44 while keeping a Buy recommendation. The move reflects investor concern after a sharp share decline and management's cautious guidance, with elevated promotional spending and potential regulatory or product-related headwinds weighing on sentiment despite strong gross margins and an e…