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

JPMorgan upgraded DraftKings stock from Neutral to Overweight and raised price target from $26 to $37.
DraftKings shares have lagged the S&P 500 since July despite market share gains.
JPMorgan says DraftKings increased gross gaming revenue market share from 28% to 32% from Q1 to Q2.
DraftKings is projected to reach profitability in 2024 as customer acquisition costs decline.
JPMorgan believes DraftKings can compete against new entrants like ESPN Bet and Fanatics.

yahoo.com

Relevant topic timeline:

8/28/2023

JPMorgan Chase Updates Market Outlook, Says One Stock Could Soar 116%: Report - The Daily Hodl

JPMorgan Chase remains optimistic about the stock market despite recent dips, with limited downside projected for the crypto markets, and bullish outlooks for Telephone & Data Systems and HilleVax.

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JPMorgan analysts worry U.S. stock investors have gotten too confident about a soft landing

JPMorgan strategists are concerned about the complacency and high levels of confidence among US stock investors, as sentiment and positioning remain far from bearish despite potential risks.

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

DraftKings stock is expected to rise due to its strong business model in the online sports betting industry, according to a J.

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JPMorgan Warns of Headwinds for Lower Income Consumers; Cuts Netflix Target; Workday Plummets on Growth Concerns

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JPMorgan's Kolanovic Forecasts 20% S&P 500 Drop and Recession Due to High Rates

JPMorgan's Marko Kolanovic predicts a 20% sell-off in the S&P 500 due to high interest rates, highlighting cash as a protective strategy and warning that the "Magnificent Seven" stocks are vulnerable to steep losses.

10/13/2023

JPMorgan Beats Earnings Estimates, Setting Positive Tone for Bank Earnings Season

JPMorgan's third-quarter earnings greatly surpassed expectations due to increased net interest income and the acquisition of [unspecified company] in May.

10/13/2023

JPMorgan Chase Reports Higher Than Expected Profits and Revenue in Q3 Despite Economic Headwinds

JPMorgan Chase's profits surge in the third quarter, surpassing expectations and reinforcing the bank's dominance despite the challenges faced by the industry; CEO Jamie Dimon warns of economic risks, including inflation, rising interest rates, and global conflicts in Ukraine and Israel.

10/13/2023

JPMorgan Chase Q3 Profit Jumps 35% to $13.15B Despite Dimon's Warning of Economic Instability

JPMorgan Chase's third-quarter profit jumps 35%, but CEO Jamie Dimon warns of economic instability due to global conflicts and high inflation, emphasizing the need for the bank to be prepared for various outcomes.

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Posted 9/26/2023, 1:24:01 PM

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

JPMorgan upgraded DraftKings stock from Neutral to Overweight and raised price target from $26 to $37.
DraftKings shares have lagged the S&P 500 since July despite market share gains.
JPMorgan says DraftKings increased gross gaming revenue market share from 28% to 32% from Q1 to Q2.
DraftKings is projected to reach profitability in 2024 as customer acquisition costs decline.
JPMorgan believes DraftKings can compete against new entrants like ESPN Bet and Fanatics.

yahoo.com

Relevant topic timeline:

8/28/2023

JPMorgan Chase Updates Market Outlook, Says One Stock Could Soar 116%: Report - The Daily Hodl

JPMorgan Chase remains optimistic about the stock market despite recent dips, with limited downside projected for the crypto markets, and bullish outlooks for Telephone & Data Systems and HilleVax.

9/4/2023

JPMorgan analysts worry U.S. stock investors have gotten too confident about a soft landing

JPMorgan strategists are concerned about the complacency and high levels of confidence among US stock investors, as sentiment and positioning remain far from bearish despite potential risks.

9/26/2023

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

DraftKings stock is expected to rise due to its strong business model in the online sports betting industry, according to a J.

9/28/2023

JPMorgan Warns of Headwinds for Lower Income Consumers; Cuts Netflix Target; Workday Plummets on Growth Concerns

10/6/2023

JPMorgan's Kolanovic Forecasts 20% S&P 500 Drop and Recession Due to High Rates

10/13/2023

JPMorgan Beats Earnings Estimates, Setting Positive Tone for Bank Earnings Season

JPMorgan's third-quarter earnings greatly surpassed expectations due to increased net interest income and the acquisition of [unspecified company] in May.

10/13/2023

JPMorgan Chase Reports Higher Than Expected Profits and Revenue in Q3 Despite Economic Headwinds

10/13/2023

JPMorgan Chase Q3 Profit Jumps 35% to $13.15B Despite Dimon's Warning of Economic Instability