Flutter Entertainment plc (NYSE:FLUT) is one of the best sin stocks to buy now. On May 7, Needham reiterated its Buy rating on Flutter Entertainment plc (NYSE:FLUT) but lowered its price target to $135 from $150. The research firm also lowered its adjusted EBITDA estimates of the company by 7%.
The price target cut is in response to deteriorating trends in the US market. In addition, the company has lowered its adjusted EBITDA guidance following the change in CEO. The cut also comes as investors continue to question how long it will take Flutter Entertainment to turn around FanDuel prospects.
Needham also lowered the company’s adjusted EBITDA by 7% due to limited visibility into its turnaround. The cut also comes as the company’s messaging increasingly focuses on an improved generosity strategy. Nevertheless, it remains bullish, with a buy rating, given the management team’s impressive track record in generating shareholder value.
Flutter Entertainment plc (NYSE:FLUT) is a global sports betting, iGaming, and entertainment company. It operates online and retail platforms for sports betting, casino games, poker, and daily fantasy sports. The company is the parent organization behind major industry brands, including FanDuel, PokerStars, Betfair, Paddy Power, and Sky Betting & Gaming.
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‘ Some details of this article were extracted from the following source finance.yahoo.com ’
