DraftKings shares are trading higher after Wells Fargo upgraded the stock from Equal-Weight to Overweight and raised its price target from $28 to $37.
Portfolio Pulse from Bill Haddad
DraftKings' stock has been upgraded from Equal-Weight to Overweight by Wells Fargo, with the price target also being raised from $28 to $37.
August 07, 2023 | 1:37 pm
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POSITIVE IMPACT
DraftKings' stock has been upgraded by Wells Fargo, which could lead to increased investor confidence and a potential rise in stock price.
The upgrade from Wells Fargo is a positive signal to investors, indicating that the bank sees potential in DraftKings' stock. This could lead to increased investor confidence, potentially driving up the stock price. The raised price target also suggests that Wells Fargo believes the stock is undervalued at its current price, which could further encourage investment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100