Flutter Entertainment PLC (LSE:FLTR) has been rated the best of the online gambling groups by analysts at Deutsche Bank, who have also upped their price target by a quarter.
Deutsche Bank said it has been a year to remember for Flutter, given it was the best-performing share in the sector.
The group has maintained its domination of the US market, through the quality/scale of its US business, where it has maintained its #1 market share.
It has absorbed regulatory hits (Dutch restrictions and Illinois taxes) within existing forecasts while delivering a steady diet of profit upgrades.
“Investors may be asking themselves whether the best is over, and if it is time to cash in some chips.
“But Flutter seems well positioned, starting to exploit the strength of its well-invested technology platform, its pricing and risk management capabilities (enabling it to offer better value to customers), while consistently delivering higher gross win margins than its peer group.”
Buy with a 23,573p target is the Deutsche Bank view.
Shares today were down 1% at 21,730p.