Canaccord lowered the firm’s price target on Flutter Entertainment (FLUT) to $270 from $300 and keeps a Buy rating on the shares. The firm noted digital gambling stocks sold off as investors grew concerned about state reports of decelerating handle trends in December that worsened in January. The latest state data continues to point to broadly in line Q4 results for digital gaming operators, with stronger hold and a rebound of iGaming growth in December offsetting the weaker handle, and the firm see a favorable setup for Flutter Entertainment as lowered expectations and reset valuations create an attractive entry point for investors willing to hold through short-term volatility.
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Read More on FLUT:
- Flutter Entertainment Confirms Updated Share Capital and Voting Rights
- Flutter price target lowered to 19,600 GBp from 25,300 GBp at JPMorgan
- Flutter price target lowered to $237 from $252 at Rothschild & Co Redburn
- Flutter Entertainment price target lowered to $259 from $304 at Stifel
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