Flutter Entertainment price target raised to $330 from $305 at Oppenheimer

Oppenheimer analyst Jed Kelly raised the firm’s price target on Flutter Entertainment (FLUT) to $330 from $305 and keeps an Outperform rating on the shares after guiding existing U.S. 2025 EBITDA to $1.4B on expanding net-GGR hold, sustained iGaming growth and decent marketing leverage. The ex-U.S. outlook implies -2%-+2% growth on 3pt-FX/$290M-outcome headwinds, likely skewing conservative, in the firm’s view, with Segment trading about 8-9-turns EBITDA. Main pushback is slower handle growth and potential tax headwinds offering less upside to guidance, Oppenheimer notes. However, it sees shares working on better visibility into achieving U.S. targets, especially with broader “Your Way” roll-out offering hold upside.