{"id":210981,"date":"2022-04-27T10:21:23","date_gmt":"2022-04-27T17:21:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=210981"},"modified":"2022-04-27T11:18:38","modified_gmt":"2022-04-27T18:18:38","slug":"rsi-stock-gets-needed-lift-from-wells-fargo-upgrade","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/","title":{"rendered":"Rush Street Interactive Stock Soars on Wells Fargo Upgrade"},"content":{"rendered":"

Rush Street Interactive (NYSE:RSI) is soaring, ranking as one of Wednesday\u2019s best-performing gaming stocks on the back of an analyst upgrade.<\/p>\n

\"RSI
Rush Street Interactive employees virtually rings the bell at the New York Stock Exchange in January 2021. The stock is soaring today thanks to an analyst upgrade. (Image: YouTube)<\/figcaption><\/figure>\n

In midday trading, shares of the online sportsbook operator are up 9.5%. In a note to clients today, Wells Fargo analyst Daniel Politzer lifts his rating on Rush Street to \u201coverweight\u201d from \u201cequal weight,\u201d with a $10 price target. While that new price projection is down from $11, it still implies upside of almost 66% from the April 26 close.<\/p>\n

Now, with shares down 63% YTD and sentiment vacillating between negative and apathetic, we believe RSI\u2019s risk\/reward skews favorably,\u201d<\/strong> writes Politzer.<\/p><\/blockquote>\n

RSI operates under the BetRivers and PlaySugarHouse brands and is currently available with mobile or retail businesses in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia.<\/p>\n

Following a minority investment in mobile games developer Boom Entertainment<\/a>, which was announced in August, RSI gained access to Louisiana, Mississippi, and New Mexico.<\/p>\n

Near-Term Catalysts for RSI Stock<\/h2>\n

While analysts and investors remain concerned about the spending required<\/a> to adequately compete in the US sports wagering arena, RSI may be able to allay those concerns, at least temporarily.<\/p>\n

\n

With no football on the US sports calendar for another several month, and with the NBA season nearing its conclusion, sportsbook operators are entering a seasonally slow period for promotional spending, observes Politizer. RSI can offset some of the seasonal slowdowns in sports wagering by its dominant perch in higher-margin online casinos.<\/p>\n<\/div>\n

The Wells Fargo analyst adds RSI has the potential to set itself apart from rivals by way of a disciplined approach to capital expenditures, adding that the operator has a \u201crealistic\u201d path to profitability. It wrote that its earnings before interest, taxes, depreciation and amortization (EBITDA) losses are unlikely to worsen.<\/p>\n

That\u2019s pivotal at a time when the investment community is wary of money-losing online sportsbook operators with limited visibility as to when profitability will arrive.<\/p>\n

Another RSI Stock Perk<\/h2>\n

Simply because a stock dramatically declines, as RSI has, that doesn\u2019t mean it\u2019s a value idea. However, RSI may be offering value relative to some of its downtrodden competitors.<\/p>\n

Politzer notes RSI stock trades at 1.7X the 2023 sales estimate, while rival DraftKings (NASDAQ:DKNG)<\/a> sports a multiple of 2.7x. The analyst\u2019s $10 price target implies a 2023 enterprise value\/sales forecast of 2.75x.<\/strong><\/p>\n

Rush Street Interactive is also active in markets outside the US, including Canada, Colombia, and Mexico. The latter two gives the operator more geographic diversity than many rivals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rush Street Interactive (NYSE:RSI) is soaring, ranking as one of Wednesday\u2019s best-performing gaming stocks on the back of an analyst upgrade. In midday trading, shares of the online sportsbook operator are up 9.5%. In a note to clients today, Wells Fargo analyst Daniel Politzer lifts his rating on Rush Street to \u201coverweight\u201d from \u201cequal weight,\u201d […]<\/p>\n","protected":false},"author":46,"featured_media":210982,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19],"tags":[],"acf":[],"yoast_head":"\nRSI Stock Gets Needed Lift From Wells Fargo Upgrade<\/title>\n<meta name=\"description\" content=\"RSI stock pops in dramatic fashion following upgrade by Wells Fargo analyst.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RSI Stock Gets Needed Lift From Wells Fargo Upgrade\" \/>\n<meta property=\"og:description\" content=\"RSI stock pops in dramatic fashion following upgrade by Wells Fargo analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-27T17:21:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-27T18:18:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/\",\"url\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/\",\"name\":\"RSI Stock Gets Needed Lift From Wells Fargo Upgrade\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg\",\"datePublished\":\"2022-04-27T17:21:23+00:00\",\"dateModified\":\"2022-04-27T18:18:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"RSI stock pops in dramatic fashion following upgrade by Wells Fargo analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Rush Street Interactive employees virtually ring the bell at the New York Stock Exchange in January 2021. The stock is soaring today thanks to an analyst upgrade. (Image: YouTube)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Rush Street Interactive Stock Soars on Wells Fargo Upgrade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"RSI Stock Gets Needed Lift From Wells Fargo Upgrade","description":"RSI stock pops in dramatic fashion following upgrade by Wells Fargo analyst.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/","og_locale":"en_US","og_type":"article","og_title":"RSI Stock Gets Needed Lift From Wells Fargo Upgrade","og_description":"RSI stock pops in dramatic fashion following upgrade by Wells Fargo analyst.","og_url":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-04-27T17:21:23+00:00","article_modified_time":"2022-04-27T18:18:38+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/","url":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/","name":"RSI Stock Gets Needed Lift From Wells Fargo Upgrade","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg","datePublished":"2022-04-27T17:21:23+00:00","dateModified":"2022-04-27T18:18:38+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"RSI stock pops in dramatic fashion following upgrade by Wells Fargo analyst.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/RSI.jpg","width":1280,"height":720,"caption":"Rush Street Interactive employees virtually ring the bell at the New York Stock Exchange in January 2021. The stock is soaring today thanks to an analyst upgrade. (Image: YouTube)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/rsi-stock-gets-needed-lift-from-wells-fargo-upgrade\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Rush Street Interactive Stock Soars on Wells Fargo Upgrade"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/210981"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=210981"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/210981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/210982"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=210981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=210981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=210981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}