Flutter Entertainment price target raised to $350 from $275 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Flutter Entertainment (FLUT) to $350 from $275 and keeps a Buy rating on the shares following quarterly results. The firm notes Flutter continues to demonstrate why it is the best-in-class online gambling operator globally. There were concerns going into the print about customer friendly NFL results in October, and its primary competitor in the U.S. lowered FY24 EBITDA guidance by 32% to account for it, yet FanDuel reported strong results/KPIs and only trimmed its FY24 EBITDA guidance by about 4%, Craig-Hallum adds.