Prediction market dislocation creates Flutter buying opportunity, says Jefferies

Meetings with Flutter’s CEO and other industry participants at the G2E industry event make Jefferies “more confident than ever” that Flutter is “best-placed to win,” the analyst tells investors. Prediction market headlines will force a legal path to prediction market legalization, further online sports betting legalization or both, but OSB operators will “prevail when offered beside prediction markets,” the analyst contends. The firm, which sees the recent prediction market “dislocation” presenting a Flutter buying opportunity, keeps a Buy rating and $380 price target on the shares.