Craig-Hallum raised the firm’s price target on Flutter Entertainment to $275 from $240 and keeps a Buy rating on the shares. The firm notes that Flutter hosted an Analyst Day on Wednesday and didn’t disappoint, showcasing its accelerating flywheel and scale advantages, dominant #1 position in an attractive secular growth online gambling industry, and as a result attractive and accelerating profitability and free cash flow. The company has the best tech and product in the industry with #1 positioning in the largest international gaming markets and isn’t letting off the gas from an innovation standpoint with several unique and first-to-market products, Craig-Hallum adds.
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