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DoubleDown initiated with a Buy at Texas Capital

Texas Capital analyst David Bain initiated coverage of DoubleDown (DDI) with a Buy rating and $20 price target Despite its extraordinarily low valuation, the company generates over $2.50 per share of visible, net free cash flow driven by its high-margin, asset-light online games business, the analyst tells investors in a research note. Texas Capital adds that its estimates exclude an increased mix of direct-to-consumer payments, regulatory-driven contraction of sweepstakes gaming competition and likely 2026E iGaming cash flow inflection.

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