Fan Duel (FLUT) Soon Launching Own Prediction Market Platform - Citizens

Citizens analyst Jordan Bender reiterated a Market Outperform rating and $311.00 price target on Flutter Entertainment (NYSE: FLUT).

The analyst commented, "DraftKings (DKNG, MO, $44 PT) and FanDuel (FLUT, MO, $311 PT) are set to launch their respective prediction market platforms in the near term. A source indicated to us both platforms were set to launch last Friday, but third-party dependencies delayed the launch. As we examine the value chain for both companies, neither has exposure to "illegal" entities in the eyes of Arizona, with CME Group (CME. NC) not providing sports contracts in states with legal sports betting. We believe both of these companies took the "cleanest" way possible to avoid friction with states and, on the surface, should not be impacted by the decision out of Arizona. We would even argue DraftKings' acquisition of Railbird solves this issue by providing flexibility in a sense whereby it can tailor its offering around fluid changes in regulations over time."

For an analyst ratings summary and ratings history on Flutter Entertainment click here. For more ratings news on Flutter Entertainment click here.

Shares of Flutter Entertainment closed at $219.70 yesterday.

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