DraftKings Stock Upgraded by J.P. Morgan As Online Gambling Prospects Look Strong

DraftKings stock was upgraded by J.P. Morgan, who believes it can be a winner in the online gambling sector.
DraftKings has an attractive business model that puts it in a strong competitive position.
The company should continue to see its stock price climb higher.
DraftKings offers online sports betting.
J.P. Morgan called the gambling sector "appealing."

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Relevant topic timeline:

9/26/2023

JPMorgan Upgrades DraftKings Stock Rating, Sees Market Share Gains and Path to Profitability

JPMorgan upgraded shares of DraftKings and boosted its price target, citing the stock's underperformance compared to the S&P 500 and the company's growth prospects in the online gambling sector.

10/19/2023

DraftKings Overtakes FanDuel as Top US Online Gambling Operator

DraftKings has overtaken FanDuel to become the top player in the US online gambling market, achieving a 31% share of the online gambling gross gaming revenue in Q3 2022 through August 23, following its acquisition of Golden Nugget Online Gaming.