Stifel analyst Jeffrey Stantial lowered the firm’s price target on Flutter Entertainment (FLUT) to $330 from $339 and keeps a Buy rating on the shares after the company reported an 8% Q3 adjusted EBITDA miss, primarily reflecting unfavorable sport outcomes and the impact from elevated competitor promos in the NFL. FY25 adjusted EBITDA guidance was lowered 14% at the midpoint, mainly factoring sport results, competitor promos and FanDuel response, and the launch investment for FanDuel Predicts, notes the analyst, whose FY25 and FY26 adjusted EBITDA forecasts move down 7% and 6%, respectively.
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