In a report released today, Mike Hickey from Benchmark Co. reiterated a Buy rating on Flutter Entertainment PLC (FLTR – Research Report), with a price target of $300.00.
Mike Hickey has given his Buy rating due to a combination of factors including Flutter Entertainment’s robust financial performance and strategic growth initiatives. The company reported a significant increase in revenue and Adjusted EBITDA, driven by the expansion of its U.S. operations, particularly through FanDuel’s sportsbook and iGaming services. Despite some challenges in the U.S. sports results, Flutter’s overall performance remained strong, with positive growth in other international markets.
Additionally, Flutter’s proactive capital management, including a reduction in leverage and a substantial increase in free cash flow, supports its financial stability and growth prospects. The company’s guidance for 2025 indicates continued revenue and earnings growth, with strategic investments in technology and international expansion. These factors, combined with a favorable valuation, underpin Hickey’s confidence in Flutter’s future performance, justifying the Buy rating and the raised price target of $300.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $328.00 price target.