Clark Lampen, an analyst from BTIG, maintained the Buy rating on Flutter Entertainment PLC (FLTR – Research Report). The associated price target remains the same with $323.00.
Clark Lampen has given his Buy rating due to a combination of factors that highlight Flutter Entertainment PLC’s promising growth potential. The company’s focus on enhancing its US operations, particularly through the FanDuel Casino business and the rollout of the ‘Your Way’ product, is expected to drive growth in the sportsbook segment. This initiative is anticipated to improve parlay mix and hold rates, benefiting from the bespoke nature of the product and the recovering interest in NBA wagering.
Additionally, Flutter’s international operations, notably in Italy and Brazil, present further growth opportunities. The company is also concentrating on developing first-party content and optimizing marketing spend, which should enhance retention and capture additional customer spending. Despite recent share price declines, the risk/reward profile remains favorable, with a significant upside potential compared to the downside risk. These strategic initiatives and market opportunities underpin Lampen’s positive outlook on Flutter’s stock.
Lampen covers the Communication Services sector, focusing on stocks such as Roblox, fuboTV, and Genius Sports Limited. According to TipRanks, Lampen has an average return of 24.8% and a 52.83% success rate on recommended stocks.
In another report released on March 10, Peel Hunt also upgraded the stock to a Buy with a $287.85 price target.