JPMorgan has added three new stocks, including one that is a sports betting firm with a huge rally since the beginning of the year. In a note published on Monday, the bank updated its list of focus stocks to include DraftKings, Boston Scientific, and Wynn Resorts. The bank’s equity analyst’s top investment ideas are compiled in the focus list, which includes growth, value and shorter investment strategies. DraftKings has been added to the focus list as a growing idea. Analyst Joseph Greff set a $37 price target. This implies a 25% increase from the stock’s close of $29.44 on Friday afternoon. DKNG mountain DraftKings chart ytd The analyst upgraded to overweight the stock from equal weight citing “recent surveys, improved fundamentals and increased estimates as well as an upcoming investor’s day.” Boston Scientific, up 13% in the past year, has also been added to this list. The bank’s $60 price target is more than 13% higher than the stock’s Friday close of $52.80. Robbie Marcus, an analyst at the bank, cited strong long-range targets for growth and positive predictive analytics to be catalysts for “multi-year growth cycle driven by pipeline.” Wynn Resorts was also added as a strategy for value, despite its 13% increase since January. The $142 target price is approximately 53% higher than the closing share price of $92.41 on Friday. Macau’s recovery [is] is still intact, despite the extreme negative sentiment in China that has disrupted share price performance. Greff called the recent note about WYNN’s UAE opportunity a bonus. General Motors, which has fallen 3% in value this year, is also on the list. Analyst Ryan Brinkman believes that shares can rise by nearly 70% based on his $56 price target. The United Auto Workers, Ford Motor, and Stellantis have all been striking against the automaker since September. The walkout involved approximately 25,000 workers. Edgewise Therapeutics, another name in growth, is also worth mentioning. Analyst Tessa Romero’s $26 target price implies that shares could rise by more than 353% compared to their Friday closing price of $5.73. The stock has dropped 36% in the past year. JPMorgan has also removed five companies from its list including Boyd Gaming, CarMax, and Carvana. Michael Bloom, CNBC’s Michael Bloom, contributed to this report.
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