Latest Share Chat

REMOVE ADS

Entain Share News (ENT)

Entain Information

Share Price Information for Entain (ENT)

Share Price is delayed by 15 minutes

Get Live Data

600.00 7.20 (1.21%)

Bid:

601.20

Ask:

601.60

Spread: 0.40 (0.067%)

Market Cap: £3.84b

Last checked at -

Intraday Entain Share Chart

REMOVE ADS

Jefferies names Flutter as top gaming pick

Tue, 06th Feb 2024 09:06

(Sharecast News) - Jefferies has named Flutter Entertainment as its top UK pick in the European gaming sector but has also named London-listed peers 888 Holdings, Entain and Playtech as 'buys'.

In a research report on Tuesday, the broker said it remains positive on the whole European gaming sector for four key reasons.

"1) Online channel growth and increased online penetration provide insulation from macro trends; 2) regulatory headwinds should ease; 3) the US profitability ramp now begins; 4) M&A remains dynamic - recent deals highlight a valuation disconnect to public markets, especially in Europe," Jefferies said.

As for Flutter, the broker its recent move to a US primary listing has created a "short-term catalyst path" with the company's "continued market dominance despite an increasingly competitive backdrop." It has a 19,500p target price for the UK-listed shares, which implies 18% upside on current levels.

"Consequent comparison with US-listed, high growth, digital peers shows a material valuation disconnect: 16.6x EV/EBITDA versus 18% compound EBITDA growth contrasts with peers on materially higher multiples."