Flutter: Buy Rating Reaffirmed on Resilient Fundamentals, With DCF-Based Price Target Maintained at $160

Ben Shelley, an analyst from UBS, maintained the Buy rating on Flutter Entertainment PLC. The associated price target remains the same with $160.00.

Ben Shelley has given his Buy rating due to a combination of factors pointing to resilient fundamentals and attractive valuation. Flutter delivered a stronger-than-expected first quarter, beating market forecasts on both revenue and EBITDA, while also outperforming its own U.S. guidance and showing early benefits from strategic initiatives in online sports betting. The company’s full-year guidance changes were mostly mechanical, and management highlighted stable customer acquisition costs and steady promotional intensity, supporting confidence in underlying profitability.

Shelley acknowledges investor concern over the heavy second-half weighting of 2026 U.S. EBITDA and the demanding operational targets embedded in the guidance, especially around improving online sports betting metrics. However, his model assumes that current headwinds, including adverse sports results and new-state launch costs, are temporary and do not alter the longer-term earnings trajectory. With only modest adjustments to 2026 forecasts and essentially unchanged 2027–2028 estimates, he maintains a discounted cash flow sum-of-the-parts price target of $160, which implies sufficient upside to justify a Buy rating.

In another report released on May 14, Berenberg Bank also reiterated a Buy rating on the stock with a p12,900.00 price target.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is neutral on the stock.