Flutter Entertainment price target raised to $350 from $310 at Oppenheimer

Oppenheimer raised the firm’s price target on Flutter Entertainment to $350 from $310 and keeps an Outperform rating on the shares. The firm notes Flutter sentiment skews positive into Q2 earnings on record June U.S. holds, accelerating iGaming trends, and FX benefiting ex-U.S. Oppenheimer sees moderating U.S. Handle losing steam on starting to comp more normalizing promotional environment. The firm believes Flutter (FLUT)/DraftKings (DKNG) are preparing to become more proactive around “Prediction Markets” where both could offer a product in non-legal states by Football.