Wedbush Securities has initiated coverage of Flutter Entertainment with an outperform rating and a price target of $138, indicating a potential 27% upside from its recent closing price.
Analyst Matthew McCartney highlighted that the 2026 FIFA World Cup is expected to drive share gains for the company, particularly as it ramps up its investment in the prediction market, FanDuel Predicts, with a $300 million allocation. This event is seen as a critical opportunity for FanDuel to regain market share amidst increasing competition in the U.S. sports betting landscape.
Despite a 49% decline in stock value year-to-date, the firm is optimistic about Flutter's strategy to enhance customer engagement through elevated promotions and product improvements. The consensus among analysts is largely positive, with 19 out of 25 recommending a buy or strong buy on the stock, suggesting a general belief in Flutter's recovery and growth potential leading up to the World Cup