Rush Street Interactive, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Bernie McTernan from Needham reiterated a Buy rating on the stock and has a $23.00 price target.
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Bernie McTernan has given his Buy rating due to a combination of factors including Rush Street Interactive’s strong performance in North America and its impressive third-quarter results. The company has shown significant growth in new customer acquisition over the past two quarters, which has contributed to its positive outlook.
Furthermore, McTernan has raised the price target to $23, reflecting the increased estimates for adjusted EBITDA by 2026, with a projected growth of 45%. The potential for regulatory changes in the online sports betting and iGaming sectors could further benefit RSI, particularly if the prediction markets continue to expand. Despite the focus on Latin America, the majority of RSI’s business remains in North America, which is experiencing accelerated growth.
In another report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $27.00 price target.