Flutter Entertainment (NYSE:FLUT) Given New $300.00 Price Target at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUTFree Report) had its price objective lifted by Wells Fargo & Company from $295.00 to $300.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also issued reports on FLUT. Oppenheimer upped their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday. BTIG Research increased their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Needham & Company LLC started coverage on shares of Flutter Entertainment in a research note on Monday, September 23rd. They set a “buy” rating and a $270.00 target price for the company. Finally, Benchmark restated a “buy” rating and set a $265.00 target price on shares of Flutter Entertainment in a research note on Monday, October 14th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $296.08.

Check Out Our Latest Stock Analysis on Flutter Entertainment

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $265.45 on Wednesday. The company’s fifty day simple moving average is $233.95 and its 200-day simple moving average is $210.01. Flutter Entertainment has a 12 month low of $149.00 and a 12 month high of $269.90.

Flutter Entertainment declared that its board has approved a stock repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds have recently bought and sold shares of FLUT. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter valued at approximately $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter valued at approximately $40,000. US Bancorp DE grew its holdings in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at approximately $82,000. Finally, Hilltop National Bank bought a new stake in shares of Flutter Entertainment during the 2nd quarter valued at approximately $101,000.

About Flutter Entertainment

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Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.

Further Reading

Analyst Recommendations for Flutter Entertainment (NYSE:FLUT)

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