Flutter Entertainment price target lowered to $311 from $345 at Citizens

Citizens analyst Jordan Bender lowered the firm’s price target on Flutter Entertainment (FLUT) to $311 from $345 and keeps an Outperform rating on the shares. The U.K. government’s sharp increases to gaming tax rates, raising Remote Gaming Duty to 40% in 2026 and General Betting Duty to 25% in 2027, are expected to pressure EBITDA, trigger consolidation, and compress margins across the sector, the analyst tells investors in a research note. Larger operators like Flutter can mitigate part of the impact, but subscale brands face significant survival challenges as the industry adjusts to a structurally higher tax environment, Citizens says.