Jefferies Equity Research analyst James Wheatcroft placed a “Buy” rating with a US$210 per share price target on Flutter Entertainment in a 26 July investor note. The stock was trading at US$100.82 at the time.
Wheatcroft cited “a positive inflection point” for Flutter. He said there had been no material cannibalization of online sports betting revenues by prediction markets. “Our deep-dive on market-making in PMs signals incremental profitability,” Wheatcroft added.
The analyst said he expected a positive reversal in Flutter’s narrative in the stock exchanges, as the story took hold.
Wheatcroft pointed out that Flutter stock had lost 65% of its value in the past year, mostly because of prediction-market fears.
