Jefferies Equity Research analyst James Wheatcroft put a Wall Street-high US$380-per-share price target on Flutter Entertainment stock in a 7 July investor note.
“We see a multiyear growth opportunity in the USA, driven by rising population penetration and new state legalizations,” Wheatcroft wrote. “Flutter has a large, stable, and diversified International business with podium positions across many key gambling geographies globally.”
Wheatcroft observed that discussion of Flutter by investors had pivoted on slowing growth of sports betting handle in the US. He attributed this to more-rational promotional activity and to the available products, not to macroeconomic factors.
