Thu Sep 26 13:21:00 UTC 2024: ## Flutter Entertainment Stock Soars on Analyst Upgrades and Buyback Plan
Flutter Entertainment (NYSE: FLUT), the global sports betting and gaming giant, saw its stock price rise on Thursday following a flurry of positive analyst activity and a significant stock buyback announcement.
Moffett Nathanson raised their price target for Flutter from $245 to $275, suggesting a potential upside of 14.66% from the current price. This optimistic outlook was echoed by other analysts, including Susquehanna, Oppenheimer, Needham & Company LLC, and JMP Securities, all of whom issued “buy” or “outperform” ratings and raised their price targets.
Adding to the positive sentiment, Flutter announced a $5 billion share buyback program, a clear signal that the company believes its shares are undervalued. This move has been interpreted by analysts as a positive sign for the company’s future prospects.
“The buyback plan suggests that the company is confident in its ability to generate strong cash flow and return value to shareholders,” said an analyst from Moffett Nathanson.
The positive news comes on the heels of a strong earnings report for Flutter, who beat analysts’ expectations in the second quarter. The company reported $2.33 EPS, exceeding the consensus estimate of $1.07.
With a consensus price target of $257.80 and a majority of analysts recommending a “buy” rating, Flutter Entertainment appears poised for continued growth in the coming months.
**Disclaimer:** This news article is for informational purposes only and should not be considered investment advice.
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