BTIG analyst Clark Lampen maintained a Buy rating on Flutter Entertainment PLC (FLTR – Research Report) yesterday and set a price target of $323.00.
Clark Lampen’s rating is based on a combination of factors that highlight the potential growth and stability of Flutter Entertainment PLC. Despite a softer performance from FanDuel in the fourth quarter, the results were in line with expectations, and future guidance remains consistent with previous forecasts. The anticipated consolidation of NSX and Snai is expected to positively impact the company’s ex-US EBITDA, potentially increasing it by approximately $50 million.
Additionally, the US market shows promising growth prospects, particularly in the FanDuel sportsbook and iGaming sectors, with expected year-over-year growth exceeding 30%. The international business also presents opportunities, especially in Italy, where online relicensing and market transitions could be beneficial. Furthermore, the potential bid for the Gioco del Lotto contract could significantly expand Flutter’s customer base, offering substantial long-term value. These factors collectively support the Buy rating, indicating confidence in Flutter’s strategic direction and growth potential.
Lampen covers the Communication Services sector, focusing on stocks such as Roblox, fuboTV, and Genius Sports Limited. According to TipRanks, Lampen has an average return of 33.3% and a 57.32% success rate on recommended stocks.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $300.00 price target.
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