The 2026 FIFA World Cup could boost this struggling sportsbook owner, Wedbush says
FanDuel-owner Flutter Entertainment is likely to get a boost from the 2026 FIFA World Cup, so investors should buy shares of the firm while they’re cheap, according to Wedbush Securities. The investment firm initiated coverage of the sportsbook name with an outperform rating. It also set a $138 price target on shares, suggesting 27% upside from Monday’s close. “We expect share gains to materialize around the 2026 FIFA World Cup with [earnings] stacking as NFL/college football season starts and as the company deploys most of the $300mn it has earmarked for Predicts investment,” analyst Matthew McCartney said Monday in a note to clients. The stock has plunged roughly 49% in the year to date. FLUT YTD mountain Shares have fallen 49% in the year to date. However, Flutter Entertainment has committed roughly $300 million to scale its prediction market push, FanDuel Predicts, in a bid to boost its struggling stock. The allocation aims to support the buildout of the exchange and promote customer acquisition, enabling the company to court more sports bettors across the U.S. The 2026 FIFA World Cup is expected to be “the first real demand test for FanDuel Predicts,” McCartney wrote. The analyst added that the international event will offer an opportunity for FanDuel to recapture market share from a growing field of event contract operators in the U.S. The FIFA World Cup began on June 11 and will conclude in mid-July. Beyond the World Cup, Flutter is also likely to gain ground through its push serve its customers through a series of “elevated promotions,” according to Wedbush. “FLUT was too slow/imprecise in reinvigorating bettors, but it’s now responding with elevated promotions,” McCartney wrote. “We expect performance gaps to continue narrowing, driven by new promotions and as tailwinds from product enhancements … build throughout the year.” Wedbush’s call falls in line with consensus on Wall Street. Of the 25 analysts covering the stock, 19 have a buy or strong buy on the stock, LSEG data shows.
