Flutter Entertainment’s Target Price Jumps. JMP, Stifel, and BofA Boost Forecasts

Analyst Upgrades Highlight U.S. Strength

JMP Securities raised its price target for Flutter to $323 from $301, maintaining an “Outperform” rating. Analysts hailed Flutter as their “top pick” in gaming, citing its leading position in U.S. online gaming and global scale. JMP noted that Flutter’s full acquisition of FanDuel eliminated valuation concerns, bolstering its competitive edge.

Stifel lifted its target to $353 from $315, keeping a “Buy” rating, driven by favorable 2025 outlooks, solid fundamentals, and reduced risks of U.S. tax hikes post-legislative sessions.

Bank of America upped its target to $330 from $295, also with a “Buy” rating, pointing to Flutter’s 100% FanDuel ownership on “attractive terms” and stronger-than-expected Q2 2025 U.S. data. BofA also raised its FanDuel valuation to $44 billion from $37 billion, underscoring its growth potential.

FanDuel and Financials Drive Optimism

Flutter’s U.S. operations, led by FanDuel, are a key catalyst. In Q1 2025, Flutter reported a 289% net income surge and a 20% rise in adjusted EBITDA year-over-year. U.S. revenues grew 18%, with iGaming up 32%, and monthly active players reached 4.3 million.

Adjusted U.S. EBITDA hit $161 million, over fivefold the prior year. The FanDuel acquisition, as BofA emphasized, strengthens Flutter’s market grip.

Globally, Flutter’s performance in Southeast Asia, India, and its SNAI acquisition in Italy add to its momentum. A $230 million share buyback of 891,000 shares in Q1 further signals financial confidence.

JMP praised its global scale, while Stifel highlighted a stable regulatory landscape. BofA’s optimism stems from Flutter’s ability to exceed U.S. forecasts, with potential upside to its 2025 projections of $17.08 billion in revenue and $3.18 billion in adjusted EBITDA.