Flutter Entertainment price target lowered to $210 from $280 at Oppenheimer

Oppenheimer lowered the firm’s price target on Flutter Entertainment (FLUT) to $210 from $280 and keeps an Outperform rating on the shares ahead of quarterly results. The firm notes Flutter is underperforming S&P/DraftKings (DKNG) 45%/15% year-to-date on declining U.S. Dec./Jan. handle suggesting share losses to peers/prediction markets, read through from DraftKings’ soft 2026 revenue guide, and slow Predicts/CME rollout. Conversations imply buy side is well below Street’s 2026 U.S. revenue/EBITDA of $8.69B/$1.426B, and Oppenheimer thinks management could take advantage of trough valuations to position guidance into more manageable beat/raise cadence.