Analyst Adrien Hilaire from Bank of America Securities maintained a Buy rating on Flutter Entertainment PLC (FLTR – Research Report) and keeping the price target at $295.00.
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Adrien Hilaire has given his Buy rating due to a combination of factors that suggest a positive outlook for Flutter Entertainment PLC. The company’s management has expressed confidence in achieving a significant U.S. EBITDA target by 2027, despite recent unfavorable sports results. This confidence is supported by structural improvements in margins and promising customer engagement with new product offerings.
Additionally, recent tax developments in various regions, while initially concerning, appear manageable and are expected to have a minimal net impact on the company’s financials. The potential for market consolidation due to higher taxes in Brazil is seen as a strategic advantage for Flutter, given its ownership of a major player in the market. Furthermore, recent data indicates an encouraging performance in May, with notable growth in both handle and gross gaming revenue, particularly in the iGaming sector, which continues to exceed expectations.
According to TipRanks, Hilaire is a 3-star analyst with an average return of 5.3% and a 55.29% success rate. Hilaire covers the Communication Services sector, focusing on stocks such as WPP, Omnicom Group, and WPP.
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