HSBC upgraded Flutter Entertainment (FLUT) to Buy from Hold with a price target of $228, down from $265. The firm sees a buying opportunity following the recent selloff in the shares. While the U.S. gaming market continues to mature and slow, the risks there and in the UK “may not be as bad as feared and appear more than reflected in share prices,” the analyst tells investors in a research note. HSBC believes Flutter can benefit from new U.S. state liberalizations.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLUT:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Flutter Entertainment price target lowered to $340 from $360 at UBS
- Buy Recommendation for Flutter Entertainment PLC: Strategic Positioning and Growth Opportunities Amid UK Budget and US Market Expansion
- DraftKings (DKNG) and FanDuel Leave the American Gaming Association
- Amazon downgraded, Alphabet upgraded: Wall Street’s top analyst calls