Wells Fargo Boosts DraftKings Inc. (DKNG) to Overweight from Equal Weight

DraftKings Inc. (NASDAQ:DKNG) is among the Growth Stock Portfolio: 12 Stock Picks By Cathie Wood.

TheFly reported on January 15, 2026, that Wells Fargo boosted DraftKings Inc. (NASDAQ:DKNG) to Overweight from Equal Weight. It lifted its price objective to $49 from $31 as part of a 2026 Digital Gaming research preview. The company anticipates strong profit growth in 2026 and notes favorable long-term development prospects in digital gaming. According to its research note, Wells Fargo also believes that DraftKings will have higher near-term potential due to projections of a solid fourth-quarter performance.

Separately, JPMorgan reduced its price objective for  DraftKings Inc. (NASDAQ:DKNG) from $42 to $41 on January 23, 2026. It retained its Overweight rating ahead of the company’s fourth-quarter earnings. In its Q4 preview, the corporation changed its goals for the gaming industry, pointing out that gaming stocks are facing a lot of negative sentiment. JPMorgan urged investors to be selective, citing digital gaming as the best possibility for profit beats.

The stock was down by 15.96% YTD as of January 23, 2026.

DraftKings Inc. (NASDAQ:DKNG) is a digital sports entertainment and gaming firm.

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Disclosure: None. This article is originally published at Insider Monkey.