UBS lowered the firm’s price target on Flutter Entertainment (FLUT) to $160 from $300 and keeps a Buy rating on the shares. Flutter shares rose roughly 21% from January 2024 to August 2025 before declining about 65%, reflecting a downgrade cycle that now appears largely priced in, the analyst tells investors in a research note. The company retains leading market share across major regulated online gaming markets, with long-term growth supported by potential further U.S. legalization and international online penetration, while improving EBITDA growth prospects, clearer deleveraging visibility, and upcoming state data and Q1 results serve as potential catalysts, the firm says.
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