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Investing.com - Stifel raised its price target on Flutter Entertainment (NYSE:FLUT) to $356.00 from $353.00 on Friday, while maintaining a Buy rating following the company’s second-quarter earnings results. The gaming giant, with a market capitalization of $52.4 billion, is trading near its 52-week high of $313.69, having delivered an impressive 18.4% return year-to-date.
Flutter reported an 18% beat on adjusted EBITDA for the second quarter, which Stifel attributed primarily to favorable U.S. sport outcomes and mis-modeled International seasonality. The firm noted that U.S. core trading performance was also modestly ahead of expectations, contributing to the company’s robust 16.7% revenue growth over the last twelve months. InvestingPro data shows 5 analysts have recently revised their earnings estimates upward for the upcoming period.
The company raised its fiscal year 2025 guidance based on several factors including sport outcomes, Boyd market access fee savings, and timing of the Missouri launch. These positive factors were partially offset by tax increases in New Jersey, Louisiana, and Illinois.
Stifel highlighted that Flutter did not incorporate U.S. core upside into its guidance, reflecting a conservative approach ahead of peak seasonality. The firm adjusted its FY25/26 adjusted EBITDA estimates upward by 1%.
Flutter remains a top pick for Stifel, though the firm indicated a cautious approach to the second half of 2025 given elevated tax hike and regulatory risks.
In other recent news, Flutter Entertainment reported impressive financial results for the second quarter of 2025, exceeding both earnings and revenue projections. The company’s earnings per share reached $2.95, which is 39.81% higher than the anticipated $2.11. Additionally, revenue surpassed forecasts, totaling $4.19 billion against the expected $4.08 billion. These figures highlight a strong performance for the quarter. Despite this, the stock saw a decrease in premarket trading. While the earnings and revenue results were positive, there was no mention of any mergers or acquisitions. Analyst upgrades or downgrades were also not reported in the recent developments. Flutter’s financial achievements underscore its recent success in surpassing market expectations.
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