Flutter Q3: FanDuel's Prediction Market Entry Builds Upside (Rating Upgrade)

Core Insights - Flutter Entertainment plc reported Q3 results on November 12, highlighting strength in iGaming, which was more than offset by weakness in the sportsbook segment, leading to notable EBITDA growth [1] Financial Performance - The company demonstrated robust performance in the iGaming sector, indicating a positive trend in online gaming despite challenges in the sportsbook area [1] Investment Perspective - The investment philosophy focuses on identifying mispriced securities by analyzing the underlying drivers of a company's financials, often revealed through DCF model valuation, allowing for a comprehensive assessment of risk-to-reward [1]