Rush Street Interactive upgraded to Positive at Susquehanna after 15% pullback

As previously reported, Susquehanna analyst Joseph Stauff upgraded Rush Street Interactive (RSI) to Positive from Neutral with a $14 price target, arguing that yesterday’s 15% selloff was an “over-reaction” to the company’s “conservative” FY25 guidance. The firm’s $14 price target only assumes fundamental upside versus the firm’s estimates and does not factor in value attribution from expanded iCasino legalization or strategic value if North American operators consolidate in iCasino, adds the analyst, who thinks MGM (MGM) is likely to acquire Entain’s (GMVHF) BetMGM stake.