“Material underperformer” Flutter Entertainment “is still trying to get back some of its online sports betting mojo against an increasingly cloudy industry backdrop,” says J.P. Morgan analyst Daniel Politzer, giving the Fan Duel parent a “Neutral” rating in an August 12 note.
Politzer set a price target for Flutter stock of $114 per share. The stock was trading at $99.02 at the time.
Taking a wait-and-see attitude toward new Flutter management, Politzer said he viewed Flutter “as a show-me story at present. ” He added that “in order to get more constructive, we would like to see better execution in the US, both operationally and financially.
