Flutter Entertainment (FLUT) Price Target Cut by UBS Amid Slower US Online Sports Betting Growth

Flutter Entertainment plc (NYSE:FLUT) ranks among the best stocks to buy now for long-term growth. UBS reduced Flutter Entertainment plc (NYSE:FLUT)’s price target to $300 from $320 on February 10, retaining a Buy rating for the stock. The drop comes as UBS notes that Flutter’s equity outlook is being challenged by updated US online sports betting figures, which show a substantial decrease in overall growth compared to previous projections.

Despite these hurdles, UBS stated that Flutter Entertainment plc (NYSE:FLUT) retains a strong global competitive edge, with the largest market share in most key regulated online gaming areas, and that the company’s long-term fundamental potential remains enormous.

Meanwhile, Citizens reduced its price target for Flutter Entertainment plc (NYSE:FLUT) to $275 from $313 on January 22. Citizens criticized Flutter management’s “uncharacteristically bad performance” in December, despite their history as “top-notch” managers over the years of service.

According to state reporting data, Flutter Entertainment plc (NYSE:FLUT) had “fairly decent gaming margins” in November and December, though these were insufficient to compensate for October’s disappointing results.

Flutter Entertainment plc (NYSE:FLUT) operates as a sports betting and gaming company. It offers sportsbooks, iGaming products such as blackjack, roulette, slot machines, poker, and rummy, as well as lottery products, and sports betting products.

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