Needham initiated coverage of Flutter Entertainment with a Buy rating and $270 price target. The firm sees Flutter’s leadership position in the U.S. as an “increasingly important” earnings driver for the company, powering 25% annual global adjusted EBITDA growth over the next three years and “well over” $10 of GAAP earnings per share in 2027. An attractive financial profile and leadership position in most countries it operates in is driven by Flutter’s global scale and Flutter Edge, which creates a “sustainable competitive position,” the analyst tells investors in a research note.
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