Flutter Entertainment price target raised to $265 from $255 at Benchmark

Benchmark analyst Mike Hickey raised the firm’s price target on Flutter Entertainment to $265 from $255 and keeps a Buy rating on the shares after having attended Flutter’s investor day and being “highly impressed” by the team’s expanded view of the U.S. total addressable market, or TAM, and the improvement in their structural hold target. While the complexity of Flutter’s international markets may pose challenges for some investors, the company’s guidance for medium-term growth was “particularly strong” and the firm contends that the benefits these markets have provided “far outweigh the discomfort of not being fully versed in all regions.”