Analyst Bernie McTernan from Needham reiterated a Buy rating on Rush Street Interactive and increased the price target to $21.00 from $17.00.
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Bernie McTernan has given his Buy rating due to a combination of factors that highlight Rush Street Interactive’s strong performance and potential for future growth. The company exceeded expectations in its second-quarter results and has raised its guidance for the fiscal year 2025, which indicates confidence in its ongoing operations and strategic direction.
Additionally, McTernan notes that RSI’s focus on iGaming positions it favorably compared to its peers, as it reduces exposure to certain industry risks such as online sports betting taxes and market threats. The potential repeal of VAT in Colombia and the benefits from investments in the US market further contribute to the optimistic outlook, suggesting that there is room for estimates to increase and for the stock to perform well above current levels.
In another report released yesterday, Susquehanna also reiterated a Buy rating on the stock with a $19.00 price target.