Here’s Why Analysts’ See 72.53% Upside For Flutter Entertainment (FLUT)

Core Viewpoint - Flutter Entertainment plc (NYSE:FLUT) is identified as an undervalued stock with significant upside potential heading into 2026, despite recent price target reductions by analysts [1][2]. Group 1: Analyst Ratings and Price Targets - Joe Thomas from HSBC upgraded Flutter's stock from Hold to Buy, lowering the price target from $265 to $228 [1]. - Ben Shelley from UBS reiterated a Buy rating, reducing the price target from $360 to $340 [1]. Group 2: Valuation and Market Concerns - The stock is currently trading at a price-to-earnings ratio of 20 and an EV/EBIT ratio of 16, which account for UK tax increases [2]. - Concerns exist regarding a slowdown in the US betting market, creating uncertainty around management's return on investment timeline [2]. Group 3: Market Opportunities - The company is expected to benefit from new state liberalization in the US sports betting market [2]. - The UK budget is seen as a major overhaul for the company, with potential catalysts including FanDuel Predicts and legislative openings in the US sports betting market [3]. Group 4: Company Overview - Flutter Entertainment plc is a global online sports betting and iGaming operator, offering a variety of products such as sports betting, casino games, daily fantasy sports, poker, and lottery through multiple brands [4].