On September 24, Flutter Entertainment PLC fell 5.3% in regular trading, trading around $81.44 per share with turnover of approximately $64.86 million. The stock hit a fresh 52-week low during the session.
On the news front, Rothschild & Co Redburn downgraded Flutter Entertainment PLC to neutral from buy and slashed its price target to $119 from $169, a roughly 30% reduction. Following the downgrade announcement, the stock had already declined 2.6% in the prior session. The analyst consensus still carries an average overweight rating with a mean price target of $133.94, but sentiment has deteriorated notably in recent months. Earlier, Citigroup downgraded the stock to sell from buy in April, and Truist trimmed its target to $140 from $160.
Adding to the pressure, the Casinos & Gaming sector saw broad declines, with MGM Resorts International down 9.5%, Wynn down 5.18%, Las Vegas Sands down 2.73%, and DraftKings down 1.72%, amplifying selling momentum across the group.
Flutter Entertainment PLC is the world's largest online sports betting and iGaming operator by revenue, operating brands including FanDuel, PokerStars, Paddy Power, Betfair, and Sky Betting & Gaming across the US, UK, Ireland, Australia, and international markets.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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