In a recent assessment, Joseph Greff from J.P. Morgan has upgraded the rating of DraftKings (NASDAQ:DKNG) to Overweight. The decision, announced on Tuesday, is predicated on the robust model and competitiveness demonstrated by the online betting company.
Greff's positive outlook for DraftKings is largely driven by the company's strong business model and its ability to remain competitive in an increasingly crowded market. As a result of this upgrade, J.P. Morgan now forecasts a valuation of $37 for the company.
This upgrade represents a significant endorsement for DraftKings and underscores its potential for growth in the online betting sector. The increased rating and projected valuation reflect the firm's confidence in DraftKings' strategic positioning and robust business operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.