Flutter Entertainment PLC, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Ed Young from Morgan Stanley maintained a Buy rating on the stock and has a $352.00 price target.
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Ed Young has given his Buy rating due to a combination of factors that highlight Flutter Entertainment PLC’s strong performance and strategic initiatives. The company’s Q3 adjusted EBITDA exceeded expectations, particularly in the US and International markets, showcasing robust operational execution. Despite some challenges in the UK and Ireland, the growth in regions like SEA, APAC, and Brazil has been impressive, contributing positively to the overall financial results.
Furthermore, the upcoming launch of the FanDuel Predicts framework is seen as a significant opportunity for Flutter, enabling access to the entire US population with its sports product offerings. This strategic move is expected to drive future growth and potentially influence states considering OSB liberalization. Additionally, the planned investment in the Predictions market for 2026 is viewed as a positive setup, reinforcing the company’s commitment to expanding its market presence and capitalizing on emerging opportunities.
In another report released today, Needham also reiterated a Buy rating on the stock with a $300.00 price target.