Citizens analyst Jordan Bender raised the firm’s price target on Rush Street Interactive (RSI) to $30 from $27 and keeps an Outperform rating on the shares. Following Q1 earnings, model and price target updates for online gaming companies reflect improving sentiment as betting handle trends appear to have bottomed, while early traction in prediction markets and market-making is expected to provide an additional catalyst for both B2C operators and B2B suppliers as related revenue begins to materialize, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RSI:
- New Jersey reports April total gaming revenue $600.8M, up 12%
- Rush Street Interactive: Buy Rating Reiterated as Strategic iGaming Position and Expansion Upside Support Unchanged $33 Price Target
- Rush Street Interactive Completes Secondary Offering and Buyback
- Rush Street Interactive 10M share Spot Secondary priced at $26.00
- Rush Street announces offering of 10M shares of Class A common stock for holders