Flutter Entertainment Target Raised on ‘Highly Attractive Return Dynamics’

Flutter Entertainment's (LON: FLTR) share price is seen rising significantly from current levels, with Jefferies lifting its price target for the stock to 22,000p from 19,500p in a recent note to clients, keeping a Buy rating on company.

Jefferies analyst James Wheatcroft told investors in a note that due to its “highly attractive return dynamics,” Flutter's FanDuel will concentrate on customer acquisition instead of a targeted profit level, implying a lower shorter-term drop-through than US peers.

Flutter Entertainment shares gained 0.94% Wednesday following the research note's release. At the time of writing on Thursday, the stock has climbed a further 0.87% to 15,735p.

Wheatcroft also stated that he believes Flutter sits in a relatively better position to handle the recent new topics of increased tax, VIP scheme scrutiny, and a potential ban on college betting.

Overall, analysts are mostly bullish on the stock, with 15 out of 16 assigning it a Buy rating, according to data from TipRanks. The current average consensus price target is 18,975.94p, representing a potential 20% upside from current levels.

In late March, JPMorgan JPMorgan analyst Estelle Winograd upgraded Flutter Entertainment to Overweight from Neutral, raising the price target to 21,300p from 16,300p per share.

Winograd said her firm has a more positive stance on FLTR's US FanDuel brand. They increased revenue and EBITDA estimates by double-digit percent in fiscal 2026 onwards. Given the US legalization coming through state by state, JPMorgan said it was increasingly confident about Flutter's total addressable market opportunity crystallizing.