Flutter Entertainment stock price target lowered to $310 at Benchmark

Investing.com - Benchmark lowered its price target on Flutter Entertainment (NYSE:FLUT) to $310.00 from $365.00 on Wednesday, while maintaining a Buy rating on the stock. Currently trading at $252.19, the company maintains a strong bullish consensus among analysts, according to InvestingPro data.

The global digital gaming company’s shares have declined sharply, trading more than 20% below their 52-week high and falling approximately 12% overall.

Benchmark attributed the stock’s pullback to investor concerns about prediction-market volatility and a disappointing start to the NFL season.

Despite the reduction in price target, Benchmark views the current pullback as "a highly attractive entry point" for the company it describes as "the global leader in digital gaming."

The research firm emphasized that Flutter’s "long-term secular growth story has not changed" and potentially "strengthened," highlighting the company’s competitive advantages across sports betting, iGaming, and emerging event-trading markets.

In other recent news, Flutter Entertainment has seen a series of analyst updates and insights. Bernstein SocGen Group has lowered its price target for Flutter Entertainment to $330, citing a $50 million impact on EBITDA due to the roll-off of its India operations. Similarly, Oppenheimer has adjusted its price target down to $330 from $350, maintaining an Outperform rating but reducing its third-quarter U.S. EBITDA estimate to $28 million. This adjustment was attributed to unfavorable September NFL betting holds and the timing of marketing investments.

On a positive note, Stifel has reiterated its Buy rating, highlighting optimism from CEO Peter Jackson about prediction markets, which are expected to be beneficial for the company. Citizens also reiterated a Market Outperform rating with a $340 price target, noting the CEO’s confidence in expanding betting offerings to improve outcomes. The firm also tracked odds and implied operator pricing across NFL games, which included data from Flutter’s FanDuel. These developments provide investors with a comprehensive view of the company’s current financial and strategic positioning.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.