More analysts are getting bullish on DraftKings (DKNG).

Most recently, JP Morgan upgraded the stock to overweight from neutral, with a price tag of $37 a share. Not only could the company see higher revenues with the 2023 NFL season, but JP Morgan says, “We are taking advantage of sluggish share price performance since late July.”

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The firm added it’s “an appealing sector, with attractive same-store and new market growth prospects, against the backdrop of an industry-wide improving operating expense control environment,” as noted by CNBC.

After hitting a high of $32.65, the DKNG stock did back off to $27.36, where it’s now technically oversold. From here, we’d like to see DKNG revisit its prior high again shortly.


Ian Cooper