Benchmark analyst maintains buy rating on Rush Street Interactive
Rush Street Interactive shares rose more than 7% in midday trading on Monday after falling 15% the previous Friday amid uncertainty over Colombia’s online-wagering VAT. Benchmark analyst Mike Hickey maintained a buy rating and a $24 price target, saying the tax was already reflected in results and that its possible removal was not included in consensus estimates.
The Colombian tax’s duration and treatment in forecasts affect investors assessing Rush Street Interactive’s earnings outlook.