Macquarie cuts DraftKings and Flutter price targets ahead of Q3 earnings
Reportedly, Macquarie lowered its price targets on DraftKings to $34 from $38 and on Flutter Entertainment to $128 from $150 ahead of third-quarter earnings. Analyst Chad Beynon kept a positive overall view of the sports betting sector, forecasting 6% growth in online sports betting gross gaming revenue and 18% growth in iGaming.
Lower targets on the two largest listed sportsbook operators signal how investors are weighing prediction-market competition against third-quarter growth.