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How close are the Lakers to being title favorites now?

How do the Los Angeles Lakers project for 2019-20 after filling out their roster with a flurry of signings in the 24 hours after Kawhi Leonard passed on their offer?

With the other stars on the market this summer long committed, Leonard's decision prevented the Lakers from adding a third current All-Star to their duo of LeBron James and newly acquired Anthony Davis. Instead, the Lakers signed seven players to go with three under contract after the Davis trade and two more who had already agreed to sign for the minimum.

Learning their lesson, the 2019-20 Lakers were built with more depth and shooting than last year's ill-fated team that ended the season in the lottery. They'll also have a second star after lacking top-end talent when LeBron was sidelined by injury. Is that enough for the Lakers to contend in a crowded Western Conference?