Needham analyst Bernie McTernan has reiterated their bullish stance on FLTR stock, giving a Buy rating today.
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Bernie McTernan has given his Buy rating due to a combination of factors including the positive outlook for Flutter Entertainment PLC’s US operations. The company’s US handle trends are showing signs of acceleration in the first quarter, following a slower fourth quarter, contributing to an anticipated 37% growth in US online sports betting revenue by 2025.
Additionally, while the guidance for 2025 is slightly below expectations due to foreign exchange impacts and challenging comparisons outside the US, the overall thesis remains strong. The expectation of stable ex-US revenue and adjusted EBITDA further supports the Buy rating, despite these external challenges.
According to TipRanks, McTernan is a 4-star analyst with an average return of 2.8% and a 47.81% success rate. McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Super Group (SGHC), and thredUP.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $300.00 price target.