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DraftKings (NASDAQ:DKNG) shares rose 5% after Bank of America upgraded the sports betting company to Buy from Neutral while maintaining a $27 price target. Analyst Julie Hoover said the stock’s 47% year-over-year decline had changed the risk-reward profile.
Bank of America upgraded shares of DraftKings from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Monday.