Susquehanna downgraded Rush Street Interactive (RSI) to Neutral from Positive with a price target of $6, up from $5. The analyst says a lack of internet casino legalization and higher Illinois-based online sports betting taxes disproportionately affect Rush Street’s prospects and are likely to negatively affect its 2024 consensus projections. In addition, the the stock has nearly doubled over the past year, and a potential takeout value of $1.5B seems “way too large” for either Caesars (CZR) or BetMGM to make in the foreseeable future, the analyst tells investors in a research note.
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