BofA Securities Downgrades Flutter Entertainment (FLUT) to Neutral

BofA Securities analyst Adrien de Saint Hillaire downgraded Flutter Entertainment (NYSE: FLUT) from Buy to Neutral with a price target of $250.00 (from $325.00).

The analyst comments "FanDuel is more diversified in sport mix than DraftKings and has seen less volatility despite higher parlay mix. However, FD has also seen a slowdown in handle growth which is only ~+5% YTD (6-7pp below DKNG), which could be coming amid the product push to parlays. This could put FLUT’s ~8% embedded handle assumption for samestates at risk. Separately, there is risk from UK tax harmonization (as mentioned in our report here), and 2026 could once again bring state-level tax headwinds. This has already pressured US margins by ~200bps, and the Street has been slow to account for this. "

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 $231.02 yesterday.

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