Cowen upgrades DraftKings, says recent struggles for stock is a buying opportunity

The outlook for DraftKings has been improving even as its stock has slipped in recent weeks, and investors should take advantage, investment firm Cowen said Monday.

In a note to clients, Cowen analyst Stephen Glagola upgraded the sports gambling stock to outperform from market perform. Shares of the gaming stock have fallen nearly 12% since April 6 and more than 21% since March 19.