Wedbush Securities initiated coverage of Flutter Entertainment with an Outperform rating and $138 price target implying roughly 24% upside after the stock fell nearly 50% year-to-date. The firm highlights Flutter’s $300 million investment into the FanDuel Predicts platform and anticipates increased betting volumes during the 2026 FIFA World Cup.
Wedbush initiated coverage of Flutter Entertainment with an Outperform rating and assigned a $138 price target, citing undervaluation after a 50% year-to-date decline and projecting 24% upside from current levels.
Analysts described the stock as priced for “overweight bearish outcomes,” arguing market concerns over U.S. growth and competitive pressures have created a significant disconnect between share price and long-term opportunities.
Flutter plans to invest $300 million into its FanDuel Predicts prediction market platform to boost customer acquisition and engagement, positioning the tool as a key driver of future U.S. market share gains.
The 2026 FIFA World Cup, alongside upcoming NFL and college football seasons, is expected to catalyze betting volume growth, providing a critical test for the FanDuel Predicts platform and potential stock turnaround.
