Flutter Entertainment rallies as BofA says valuation gap should narrow with DraftKings

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Flutter Entertainment rose 8%, the top performing U.K. blue chip, after two positive broker notes. Bank of America added the gambling company to its “Europe 1” list, saying with its FanDuel and FoxBet brands it is the strongest positioned to capture share in the U.S. market, and that the valuation gap relative to DraftKings is not warranted. Bank of America increased its price target to 14,300 pence from 12,700 pence. Barclays meanwhile said Flutter will beat third-quarter expectations and lift guidance, with beats most likely in the U.K. and Australia given the update from rival GVC .
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