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.”
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.