Core Viewpoint - Craig-Hallum analyst Ryan Sigdahl downgraded Flutter Entertainment (FLUT) to Hold from Buy with a price target of $200, while still considering it an attractive long-term investment due to its leading portfolio and scalable financial model [1] Group 1 - Flutter Entertainment has a strong portfolio of top brands globally, which contributes to its attractiveness as a long-term investment [1] - The financial model of Flutter is highly scalable, indicating potential for growth [1] - Despite the positive long-term outlook, the firm notes that headwinds are increasing, which may limit short-term upside in shares [1]