Wedbush lowered the firm’s price target on DoubleDown (DDI) to $15 from $21 and keeps an Outperform rating on the shares. The firm says DoubleDown’s business model continues to benefit from acquisitions against a maturing user base and considerable competition in the social casino space, with management indicating future deals would step up in size from the $65M WHOW transaction and may extend beyond social casino and iGaming. Wedbush remains bullish but lowers its price target to reflect the probability-weighted outcome between its standalone valuation and the pending take-private proposal.
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