Entain favoured over Flutter as RBC ups price targets for bookmakers

Bookmakers Flutter Entertainment PLC (LON:FLTR) and Entain PLC (LON:ENT) saw prices targets lifted by Royal Bank of Canada on Monday.

For Paddy Power and Betfair parent Flutter the price target moves to 17,000p, from 15,000, though a ‘sector perform’ rating is maintained. Analyst Chrisne Zhou highlighted that the firm’s fundamentals are strong, but, the stock’s positives are largely well known and priced in.

At the same time, RBC repeated an ‘outperform’ rating for Ladbrokes and Coral owner Entain with the target increasing to 1,835p from 1,700.

“Entain's US performance continues to accelerate, with current market share now tracking above our medium-term 2025e estimates,” Zhou said in a note.

“We continue to like the stock post the strong run.”