Wells Fargo analyst Daniel Politzer says Flutter Entertainment (FLUT) is outperforming after the UK’s budget release, which shows no immediate changes to UK gaming tax rates. The near-term worst case for Flutter “seems averted,” but there will be additional studies in 2025 that could eventually result in higher taxes, the analyst tells investors in a research note. Wells says that while some overhang on the shares is alleviated, the door remains open on a future tax increase in 2026. It keeps an Overweight rating on Flutter with a $295 price target
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FLUT:
- Flutter, Entain UK tax overhang removed ‘for now,’ says Barclays
- Jefferies sees ‘initial relief’ in UK-facing gambling group ‘morphing’ to worry
- Flutter rallies after Chancellor of the Exchequer budget contains no tax hikes
- Nevada reports September statewide gaming win up 3.34% to $1.31B
- Bet On It: DOJ supports lawsuit alleging price fixing at Las Vegas hotels
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
