Morgan Stanley reveals new DraftKings stock price target
Key takeaways
- In a Morgan Stanley note shared with The Street, analyst Stephen Grambling and his team lowered their Draft Kings price target to $39 from $40, while maintaining an Overweight rating on the stock.
- The target cut was modest, and the broader call remains bullish.
- Morgan Stanley adjusted its forecasts after DraftKings’ first-quarter commentary and the company’s latest outlook for prediction-market spending.
Morgan Stanley reveals new Draft Kings stock price target Tyler Bundy Fri, May 15, 2026 at 10:07 PM GMT+7 4 min read DKNG MS Draft Kings investors have been waiting for the company to prove that its online betting business can keep expanding while new growth bets start to take shape.
In a Morgan Stanley note shared with The Street, analyst Stephen Grambling and his team lowered their Draft Kings price target to $39 from $40, while maintaining an Overweight rating on the stock. The new target still implies roughly 60% upside from DraftKings’ May 12 closing price of $24.61.
The target cut was modest, and the broader call remains bullish. Morgan Stanley argues that DraftKings appears to be getting little value from investors for prediction markets, future iGaming legalization, and other growth opportunities that could become more important over time.