Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Flutter Entertainment (FLUT) Price Target Trimmed by Citi

We recently published 12 Best Consumer Cyclical Stocks to Buy According to Analysts.  Flutter Entertainment plc (NYSE:FLUT) is one of the best consumer cyclical stocks

Flutter Entertainment plc (NYSE:FLUT) is a software technology company that offers online betting and other services. Its leading service FanDuel is one of the largest sports betting apps in the US and has a user base of more than 12 million users.

As of November 28th, 19 out of 27 analyst recommendations for Flutter Entertainment plc (NYSE:FLUT) were a Buy. Out of the remaining eight, six were a Strong Buy while two were a Hold. The average share price target for Flutter Entertainment plc (NYSE:FLUT)’s shares is $307.59.

A fresh analyst report from Citi on November 29th lowered Flutter Entertainment plc (NYSE:FLUT)’s share price target to $320 from $340 and kept a Buy rating on the shares, The Fly reported. At the heart of the upgrade was the firm’s tussle with the British government after UK finance minister Rachel Reeves announced that the online gaming tax would rise from 21% to 40%. As the tax rate was increased, Citi noted that the clarity after the announcement came after Flutter Entertainment plc (NYSE:FLUT) had suffered from uncertainty regarding the tax rates. The tax rate concern was at the center of analyst coverage ahead of Reeves’ announcement, with UBS cutting the share price target to $340 from $360 on November 20th as it commented that the stock could re-rate after the announcement as focus returns on its fundamentals.

Pressmaster/Shutterstock.com

Flutter Entertainment plc (NYSE:FLUT)’s tax rates were also on UBS analyst Ben Shelley’s mind during the firm’s third-quarter earnings call. Shelley’s question revolved around wager fees in Illinois, and he asked management about the impact on player behavior and the firm’s strategy for future potential tax hikes. In response, Flutter Entertainment plc (NYSE:FLUT)’s CFO, Rob Coldrake, remarked:

“Yes. Hi, Ben. I can pick up on Illinois. So obviously, with the structure that was introduced in Illinois, as you’d expect, we’re seeing a reduction in the number of bets there. But increasing handle per bet. When we look to the September data, Illinois is definitely behaving in line with other states, so we saw no impact on our Q3 numbers. However, we do still kind of monitor this very closely, we’re looking at the market data closely at the start of Q4 and what that may or may not mean. When you take a step back and approach this higher level, we definitely feel that this is another lever or tool that we’ve got in our armory to potentially mitigate taxes in high-tax jurisdictions moving forward. We’re hopeful that the regulatory landscape potentially accelerates with some of the prediction developments as well as we discussed earlier.

But yes, this is certainly something that we’ll have in our toolkit moving forward and we’ll consider elsewhere where appropriate.”

While we acknowledge the risk and potential of FLUT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FLUT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

I’ve compiled everything you need to know about this groundbreaking company in a detailed, members-only report.

Trust me — you’ll want to read this report before putting another dollar into any tech stock.

For a ridiculously low price of just $9.99 a month, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

If you’re thinking about getting in, don’t wait – because once Wall Street catches wind of this story, the easy money will be gone.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99 a month.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!