FLUT Stock Forecast & Price Target

Flutter Entertainment is favored because FanDuel is taking share during NFL kickoff weeks, with weekly DAUs up about 9% YoY through NFL Week 4 versus declines at DraftKings, and New York handle up about 26% YoY while share rose to roughly 38%. The company also delivered a 2Q26 beat, with group revenue of $4,326mn and adjusted EBITDA of $508mn, and it is pairing strong engagement with loyalty programs, higher promo efficiency, and early sportsbook improvement-plan traction. In addition, the predictive betting push and $500mn phase-two cost program through 2029 add optionality for margin expansion and long-term earnings power even as management invests to defend its leading US position.

Flutter Entertainment is facing a more fragile earnings profile because Brazil’s ban removes a meaningful growth market, cutting 2026 revenue by about $70mn and adjusted EBITDA by about $20mn while also lowering FY27/FY28 estimates materially. The larger concern is the U.S., where FanDuel has lost roughly 400 bps of NGR share, New York hold weakened sharply in September, and higher promotional spend plus outcome-driven volatility are compressing margins and forcing guidance lower. At the same time, prediction markets, tax increases, leadership turnover, and 3.7x net leverage raise execution risk, making the path to sustained EBITDA growth and capital returns less certain.