Investing.com
Published Jul 10, 2025 07:04AM ET
Investing.com - BTIG has raised its price target on Flutter Entertainment (NYSE:FLUT) to $302.00 from $284.00 while maintaining a Buy rating on the stock. Currently trading at $286.33, Flutter has demonstrated strong momentum with a 44% return over the past year and maintains a market capitalization of $50.6 billion. According to InvestingPro analysis, the company appears fairly valued at current levels.
The firm adjusted its second-quarter 2025 forecasts for Flutter's U.S. operations, now projecting revenue of $1.724 billion and EBITDA of $298 million, compared to Street estimates of $1.648 billion and $267 million respectively.
For full-year 2025, BTIG revised its revenue projection to $7.420 billion and EBITDA to $1.107 billion, while its 2026 estimates now stand at $8.817 billion in revenue and $1.765 billion in EBITDA.
The analyst noted that handle and gross gaming revenue data for FanDuel sportsbook has been in-line to slightly ahead of previous estimates, though net gaming revenue projections were tempered to reflect steady year-over-year promotional spending trends outside of North Carolina.
BTIG also increased its iGaming revenue forecast based on stronger April/May casino data, but reduced its "Other Revenue" estimate by approximately $40 million annually from the third quarter of 2025 forward, reflecting the recent shutdown of daily fantasy sports in California.
In other recent news, Flutter Entertainment is set to report its second-quarter results on August 7, with UBS expecting the company to exceed analyst expectations for both revenue and EBITDA. UBS maintains a Buy rating with a $340 price target, citing strong performance in Flutter's U.S. operations and a positive outlook despite new U.S. tax challenges. Jefferies has also resumed coverage with a Buy rating and a $380 price target, highlighting Flutter's potential for strong growth and several catalysts for stock appreciation. Meanwhile, JMP reiterated a Market Outperform rating with a price target of $301, emphasizing Flutter's diversified customer base and its TVG horse racing platform. HSBC, however, raised its price target slightly to $259 while maintaining a Hold rating, cautioning investors about limited fundamental upside. In corporate developments, FanDuel Group, a subsidiary of Flutter Entertainment, announced the appointment of Shailagh Murray and Jonathan Nabavi to its public affairs team. These appointments are part of FanDuel's strategy to engage in policy discussions shaping the online gaming industry.
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Written By: Investing.com
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