Canaccord Genuity analyst Jason Tilchen maintained a Buy rating on Flutter Entertainment PLC yesterday and set a price target of $300.00.
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Jason Tilchen has given his Buy rating due to a combination of factors that highlight Flutter Entertainment PLC’s strategic positioning and growth potential. Despite mixed Q3 results, the company has shown significant growth in the US iGaming sector, which is expected to continue expanding with the launch of the new FanDuel Predicts app. This app aims to capture market share in states where online sports betting is not yet legal, leveraging Flutter’s experience and partnerships to create a competitive offering.
Additionally, the company’s international growth remains robust, driven by recent acquisitions and strong performance in key markets like Italy and Turkey. While there are challenges, such as unfavorable sports betting outcomes and increased promotional intensity, the company’s diverse global platform and strategic investments are expected to fuel strong cash flow and provide attractive valuation opportunities for investors. The clarity on FanDuel’s investment strategy and potential for improved sports outcomes further support the Buy rating.
Tilchen covers the Consumer Cyclical sector, focusing on stocks such as Flutter Entertainment PLC, PENN Entertainment, and DraftKings. According to TipRanks, Tilchen has an average return of 0.8% and a 34.29% success rate on recommended stocks.
In another report released today, BTIG also maintained a Buy rating on the stock with a $271.00 price target.