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.

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

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.

While we acknowledge the risk and potential of DKNG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DKNG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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