Mike Hickey, an analyst from Benchmark Co., maintained the Buy rating on Flutter Entertainment PLC. The associated price target remains the same with $365.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mike Hickey has given his Buy rating due to a combination of factors including Flutter Entertainment’s strong performance in the New York market during the NFL season. Despite a slight decline in market share, FanDuel, a subsidiary of Flutter, showed impressive growth in gross gaming revenue (GGR) and handle, particularly in Week 3 where it achieved its best weekly growth of the season.
Furthermore, FanDuel maintained a significant share of the New York market, capturing 34% of handle and 43% of GGR for the season to date. This performance, although slightly down from the previous year, still demonstrates the company’s robust position in the market. Hickey’s Buy rating reflects confidence in Flutter’s ability to sustain its market presence and capitalize on growth opportunities in the competitive landscape.
In another report released on September 15, Craig-Hallum also maintained a Buy rating on the stock with a $330.00 price target.