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Truist analyst cuts DraftKings, Flutter and Caesars betting targets

Business

Truist analyst Barry Jonas lowered price targets for DraftKings, Flutter and Caesars ahead of their Q3 earnings, citing weaker expected sports betting results, particularly NFL outcomes in September. He maintained buy ratings on DraftKings and Flutter and forecast lower EBITDA for the companies; Jonas said his estimates did not account for an impact from prediction markets.

The revised targets and earnings forecasts provide investors with updated analyst expectations for major US betting companies.

End-of-day close DraftKings (DKNG), USD, to 5 December 2025
Story date8 September 20255 December 2025

Latest reported results

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

Flutter NYSE: FLUT

Quarter ended 30 September 2026

Revenue
USD 3.87bn
Operating income
−USD 1.19bn10-Q filing 0001635327-26-000059

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