Flutter price target raised to 22,000 GBp from 19,500 GBp at Jefferies

Jefferies analyst James Wheatcroft raised the firm’s price target on Flutter Entertainment to 22,000 GBp from 19,500 GBp and keeps a Buy rating on the shares. The firm says that given “highly attractive return dynamics,” FanDuel will focus on customer acquisition, rather than a targeted profit level, implying a lower shorter term drop-through than U.S. peers. The firm, however, believes Flutter sits in a relatively better position to address the recent new topics of increased tax, VIP scheme scrutiny, and a potential ban on college betting.