Rush Street Interactive price target raised to $7 from $6 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Rush Street Interactive to $7 from $6 and keeps a Hold rating on the shares. The firm notes Rush Street reported a strong Q4 beat and introduced 2024 guidance ahead of Street expectations. After years of trying to find its competitive niche and fighting head-to-head with a small cohort of OSB leaders in the U.S., Rush Street has now optimized its U.S. markets, focused resources in fast-growing and emerging LatAm markets, and is efficiently managing expenses, Craig-Hallum says. The firm continues to think the trade is higher in the near-term given the business momentum and fundamental improvements.