Rush Street Interactive rises after Stifel initiates with 'buy'
RSI•Stifel starts coverage with buy rating and $34 target
Online gaming casino and sports betting firm Rush Street Interactive's RSI.N shares rise 2.9% to $22.2 premarket.
Brokerage Stifel initiates coverage with "buy" and a $34 PT, a near 58% premium to RSI's last close.
Says RSI is the only US-focused publicly traded online casino operator (iCasino) supported by strong growth prospects and stable cash flows.
Despite tougher competition, RSI's strong iCasino execution has driven industry-leading user growth and marketing efficiency - Stifel.
12 of 13 brokerages rate the stock "buy" or higher, one "hold"; median PT is $36 - LSEG-compiled data.
As of last close, stock up 11% YTD.
