Rush Street Interactive (RSI) PT Raised to $21 at Needham

Needham analyst Bernie McTernan raised the price target on Rush Street Interactive (NYSE: RSI) to $21.00 (from $17.00) while maintaining a Buy rating.

The analyst commented: "We reiterate our Buy Rating and increase our price target to $21 after RSI beat 2Q estimates and raised its FY25 guide. We think RSI will continue to trade at an elevated multiple to peers and therefore see upside to current stock prices levels given its focus on iGaming, meaning less exposure to some of the industry bear cases (OSB taxes, structural hold and prediction market threats) and potential upside risk to estimates in Colombia with the potential for the VAT to be repealed and benefits from their investments in US customer acquisition in 2H."

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