BTIG raises Flutter Entertainment stock price target on model adjustments
BTIG has raised Flutter Entertainment's stock price target to $96.00 from $95.00, maintaining a Buy rating on the stock. Shares are currently trading at $84.07, significantly below InvestingPro’s Fair Value of $110.46, which suggests the stock could be undervalued. This move comes as the firm adjusted its financial model following Flutter’s recent results.
The firm provided an overview of the model adjustments and Flutter’s outlook. The revised target remains alongside the price increase. Analysts predict the company will be profitable in the current year with growing net income. Flutter is one of 1,400+ US equities under comprehensive Pro Research Reports. Recently, Flutter Entertainment reported a significant loss for 2026 due to Brazil-related impairment, increased restructuring costs, and weaker sports performance.
Adjusted earnings per share were -$4.90, far below expectations of $0.35. Revenue for the quarter was $3.87 billion, missing the forecasted $4.03 billion. Despite these setbacks, revenue saw a 2% year-over-year increase. Adjusted EBITDA declined by 25%, reflecting higher costs and external pressures. Jefferies also adjusted its outlook, lowering the price target from $180 to $160 while maintaining a Buy rating, citing additional investment in FanDuel and reduced fiscal 2027 EBITDA estimates by 6%.
These developments highlight Flutter’s challenges and strategic adjustments in the current market landscape.
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