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Stifel cuts DraftKings earnings forecast by 100 million dollars over prediction market spending, Legal Sports Report reports
- Stifel cuts DraftKings earnings forecast by 100 million dollars over prediction market spending, Legal Sports Report reports — Stifel lowered its 2026 adjusted EBITDA forecast for DraftKings by 100 million dollars to reflect additional prediction market spending, putting its estimate 16 percent below the low end of the company's previous guidance, and cut its DraftKings price target to 32 dollars from 36 dollars. The firm kept Flutter, the FanDuel parent, as its top stock pick while lowering its price target to 125 dollars from 133 dollars. (Legal Sports Report)
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