Flutter Entertainment PLC, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Ben Shelley from UBS maintained a Buy rating on the stock and has a $360.00 price target.
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Ben Shelley has given his Buy rating due to a combination of factors that indicate a positive outlook for Flutter Entertainment PLC. Despite a recent decline in share price driven by concerns over UK tax risks and competition, the company is expected to maintain its growth trajectory. The anticipated Q3 results are likely to reaffirm Flutter’s guidance, showcasing a strong EBITDA compound annual growth rate projected through FY26-29.
Additionally, while there have been some downward revisions to revenue and EBITDA estimates due to unfavorable sports outcomes, particularly in the US market, the overall growth in sectors like iGaming remains robust. The valuation, supported by a discounted cash flow sum-of-the-parts approach, remains unchanged, reflecting confidence in the company’s long-term potential. These factors collectively support the Buy rating as they highlight the company’s resilience and promising future prospects.
According to TipRanks, Shelley is an analyst with an average return of -2.7% and a 30.00% success rate.
In another report released on October 21, Truist Financial also assigned a Buy rating to the stock with a $335.00 price target.