Flutter Entertainment price target lowered to $280 from $320 at Oppenheimer

Oppenheimer lowered the firm’s price target on Flutter Entertainment (FLUT) to $280 from $320 and keeps an Outperform rating on the shares. The firm is reducing Q4 U.S. Revenue/EBITDA by 4%/8% to $2.27B/$398M on lower December handle. Oppenheimer is also lowering its 2026 U.S. Revenue/EBITDA by 2%/7% to $2.12B/$321M while leaving ex-U.S. unchanged. Despite the estimate reduction, the firm sees Flutter’s 11.3 times forward EV/EBITDA trading near its two-year low offering an attractive entry point.