Flutter Entertainment plc (NYSE:FLUT) is one of the Under-the-Radar Stocks to Buy with Massive Upside Heading into 2026. On November 24, Joe Thomas from HSBC upgraded the stock from Hold to Buy, but lowered the price target from $265 to $228. Earlier on November 19, Ben Shelley from UBS had also reiterated a Buy rating on Flutter Entertainment plc (NYSE:FLUT) and lowered the price target from $360 to $340.
Thomas from HSBC noted he upgraded the stock based on the cheap valuation as the company trades at 20 times its price to earnings ratio and 16 times its EV/EBIT. He added that these figures factor in the UK tax increases. The analyst highlighted concerns regarding a slowdown in the US betting market, which creates ambiguity around management’s timeline for return on investment. Regardless, Thomas sees the company benefiting from new state liberalization in the US Sports betting market.
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Moreover, Ben Shelley from UBS noted the UK budget as a major overhaul for the company and also a primary driver of reduced price targets. He added that once the budget passes, the stock can be revalued as the firm sees major catalysts, including FanDuel Predicts and potential US legislative openings for the US Sports betting market.
Flutter Entertainment plc (NYSE:FLUT) is a global online sports betting and iGaming operator offering a variety of betting products, including sports betting, casino games, daily fantasy sports, poker, and lottery through multiple brands.
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Disclosure: None. This article is originally published at Insider Monkey.
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‘ Some details of this article were extracted from the following source finance.yahoo.com ’
