{"id":67824,"date":"2023-10-02T10:48:14","date_gmt":"2023-10-02T14:48:14","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/draftkings-stock-and-2-other-october-plays-from-j-p-morgan\/"},"modified":"2023-10-02T10:48:17","modified_gmt":"2023-10-02T14:48:17","slug":"draftkings-stock-and-2-other-october-plays-from-j-p-morgan","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=67824","title":{"rendered":"DraftKings Stock and 2 Other October Plays From J.P. Morgan"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

The stock market is entering October a little battered and bruised after September\u2019s selloff. However, that also offers opportunities and
\n J.P. Morgan\u2019s<\/span>
\n analysts have some ideas for where to invest at the start of the fourth quarter.\u00a0<\/p>\n

The bank has updated its Focus List, a compilation of its analysts\u2019 top ideas. Three stocks have been added:
\n DraftKings
\n (ticker: DKNG),
\n Wynn Resorts
\n (WYNN) and
\n Boston Scientific
\n (BSX).<\/p>\n

\n

Sports-betting company
\n DraftKings
\n has been added as a growth idea, based on improved fundamentals. J.P. Morgan analyst Joseph Greff recently upgraded his rating on the stock to Overweight with a 2024 year-end target price of $37. DraftKings traded up 0.9% at $29.70 in premarket trading on Monday. <\/p>\n

Greff is also backing
\n Wynn Resorts.<\/span>
\n He likes the Macau-focused gambling operator as a value play having given it an Overweight rating and a target price of $142 earlier this year. Wynn traded at\u00a0$92.41 in premarket trading. <\/p>\n

The Macau recovery is still intact despite extreme negative sentiment around China knocking Wynn\u2019s shares recently, wrote Greff. Wynn was a Barron\u2019s<\/em>\u00a0stock pick earlier this year, based on the Macau rebound opportunity.\u00a0<\/p>\n

Medical-technology company
\n Boston Scientific
\n is a pick from J.P. Morgan\u2019s Robbie Marcus. Recent positive data from a study of pulsed field ablation in patients with atrial fibrillation, or abnormal heartbeats, should underpin confidence in a multiyear growth cycle based on its device pipeline, according to Marcus.\u00a0<\/p>\n

the analyst has an Overweight rating and $60 target price on Boston Scientific. The shares last traded at $52.50. <\/p>\n

It\u2019s also worth noting which stocks have been moved off the Focus List. Boyd Gaming (BYD) and
\n Las Vegas Sands
\n (LVS) have been taken out, losing out to DraftKings and Wynn respectively as the preferred growth and value picks in the gambling sector.\u00a0<\/p>\n

Meanwhile,
\n Qualcomm
\n (QCOM) has been taken off as it faces some near-term headwinds related to China\u2019s Huawei, according to J.P. Morgan analyst Samik Chatterjee. Huawei is currently a big purchaser of Qualcomm\u2019s smartphone processors but TF International Securities analyst Ming-Chi Kuo has warned it could lose out on 50 million to 60 million units in orders from 2024 as Huawei adopts self-developed processors.<\/p>\n

J.P. Morgan maintained its Overweight ratings on all of Boyd Gaming, Las Vegas Sands, and Qualcomm. <\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The stock market is entering October a little battered and bruised after September\u2019s selloff. However, that also offers opportunities and J.P. Morgan\u2019s analysts have some ideas for where to invest at the start of the fourth quarter.\u00a0 The bank has updated its Focus List, a compilation of its analysts\u2019 top ideas. Three stocks have been […]<\/p>\n","protected":false},"author":1,"featured_media":67825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-67824","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nDraftKings Stock and 2 Other October Plays From J.P. Morgan | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The stock market is entering October a little battered and bruised after September\u2019s selloff. 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