dMY Technology Group (DMYT) PT Raised to $21 at Benchmark
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Benchmark analyst Mike Hickey raised the price target on dMY Technology Group (NYSE: DMYT) to $21.00 while maintaining a Buy rating.
The analyst commented, "RSI announced F3Q20 results, beating on sales and Adjusted EBITDA and then raised its FY20 revenue forecast by 20%. RSI and the online casino and online sports betting markets continue to exceed our growth expectations. Despite aggressive competition, RSI maintained a market leadership position in Oct. for online casino and delivered sequential growth in online sports betting handle in PA. We anticipate that Michigan will open for both online casino and online sports betting in FY21. We think the virus influence over the winter months will continue to drive elevated engagement. We believe RSI will de-SPAC in late Dec. 2020. We reiterate our Buy rating and raise our price target to $21."
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