At times when watching sports on TV these days, it's easy to get the impression that we're awash in sports gambling services. This ubiquity is dramatically boosting the profile of (NASDAQ: DKNG), a top operator in that business. On Monday, investors' optimism about the company was enhanced by an analyst's upgrade of its stock.

On Monday morning, UBS prognosticator Robin Farley changed her rating on DraftKings to buy from her previous rating of neutral. She also dramatically increased her price target on the shares to $30. Previously, her target was $19.

Farley based her new DraftKings take on the company's quicker penetration into states that have recently legalized sports betting, what she terms "improvements in structural hold," and its higher revenue per user. 

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Source Fool.com