Bernie McTernan, an analyst from Needham, maintained the Buy rating on Flutter Entertainment PLC. The associated price target remains the same with $300.00.
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Bernie McTernan has given his Buy rating due to a combination of factors tied to Flutter Entertainment’s early but strategically important push into prediction markets through the FanDuel Predicts app. He views the product’s sportsbook-like interface and flexible odds display as positives that should support user familiarity and engagement, aligning the new offering closely with the core online sports betting experience. Although the initial rollout is confined to only five states, he interprets this as a deliberate phased launch aimed at gathering data, refining the product, and building a framework for a nationwide presence across all 50 states over time.
McTernan also notes that the limited bet types at launch are consistent with a new product introduction and expects functionality to broaden in line with what has been observed at competitors. The absence of major new-customer bonuses at this stage, alongside clear budget expectations for prediction market spending, suggests a disciplined investment approach rather than an aggressive, margin-dilutive land grab. Additionally, contract pricing in line with peers indicates a competitive cost structure. Altogether, these elements point to a new growth avenue that can enhance Flutter’s long-term position in U.S. sports gaming, supporting his Buy recommendation on the shares.
In another report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $300.00 price target.