Flutter Entertainment falls after UBS halves price target

U.S.-listed shares of sports betting platform Flutter Entertainment FLUT.K fall 1.57% to $106

UBS cuts PT on FLUT to $160 from $300, which is still a 48.3% upside to the stock's last close

Brokerage cites reduced earnings forecasts and a more conservative view on the company’s international business

UBS sees three pillars as essential for rebuilding Flutter's equity story which include earnings stability, meaningful profit growth in 2027 and balance sheet repair and return of capital

21 of 26 analysts rate stock "strong buy" or "buy" and 5 "hold"; their median PT is $200 - data compiled by LSEG

Including session's move, stock down 51% YTD