Rush Street Interactive (RSI) PT Raised to $8 at Needham

Needham analyst Bernie McTernan raised the price target on Rush Street Interactive (NYSE: RSI) to $8.00 (from $6.00) while maintaining a Buy rating.

The analyst commented, "We reiterate our Buy rating on RSI and increase our PT to $8 following strong 4Q23 results. Importantly, RSI commented that if the new IL tax plan was in effect in '23, it would only be a <$3M impact to RSI, lower than expected. In addition, RSI provided adj. EBITDA guidance for the first time, calling for growth from +$8M to +$40M and we see potential upside from better revenue growth and higher incremental margins."

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