Citi double downgraded Flutter Entertainment (FLUT) to Sell from Buy with a price target of 6,800 GBp, down from 15,800 GBp. Citi also opened a “negative catalyst watch” on Flutter and removed the shares from its European Focus List. The firm no longer values the company U.S. business on fiscal 2028 estimates due to reduced conviction in its growth forecasts over 2026 and 2027. In addition, FanDuel Predicts warrants minimal value amid the regulatory uncertainty, the analyst tells investors in a research note.
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