Morgan Stanley upgrades DraftKings, projects sports betting stock can rebound 60%

Published Wed, Jan 26 20226:22 AM ESTUpdated Wed, Jan 26 20221:16 PM EST

The entrance from the elevators, designed to resemble a tunnel entering a stadium, is pictured at the DraftKings office in Boston.

David L. Ryan | The Boston Globe via Getty Images

The drop for shares of DraftKings has gone too far even if the company is not yet turning a profit, according to Morgan Stanley.

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