Flutter Entertainment price target lowered to $180 from $230 at BTIG

BTIG lowered the firm’s price target on Flutter Entertainment (FLUT) to $180 from $230 but keeps a Buy rating on the shares. The company reported Q4 results that fell slightly below expectations but were in-line to ahead of buy-side base/bear case expectations for the quarter, the analyst tells investors in a research note. After very significant multiple compression, any signs of handle acceleration or future/traction mitigation of the Prediction markets bear case should drive substantial re-rating and share price upside, the firm adds.