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UK budget alleviates some overhang on Flutter, says Wells Fargo
The Fly

UK budget alleviates some overhang on Flutter, says Wells Fargo

Wells Fargo analyst Daniel Politzer says Flutter Entertainment (FLUT) is outperforming after the UK’s budget release, which shows no immediate changes to UK gaming tax rates. The near-term worst case for Flutter “seems averted,” but there will be additional studies in 2025 that could eventually result in higher taxes, the analyst tells investors in a research note. Wells says that while some overhang on the shares is alleviated, the door remains open on a future tax increase in 2026. It keeps an Overweight rating on Flutter with a $295 price target

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