Flutter Entertainment resumed with a Buy at Jefferies

Jefferies analyst James Wheatcroft resumed coverage of Flutter Entertainment (FLUT) with a Buy rating and $380 price target which is a high on the Street. The firm says its expectations for annual EBITDA growth of 17% and revenue growth of 31% over the next three years is not priced into the shares. Flutter’s “macro insulation,” simpler narrative, and catalysts including U.S. index additions, ongoing share buybacks, and the YourWay penetration are catalysts for the stock, the analyst tells investors in a research note.