WedbushPredicts 2026 FIFA World Cup Will Revitalize Struggling Sportsbook Owner
<p>Wedbush Securities initiated coverage of Flutter Entertainment, the owner of FanDuel, with an outperform rating and a $138 price target, implying a potential 27% upside from the previous close. The firm expects share price appreciation to coincide with the 2026 FIFA World Cup, as earnings improve during the NFL and college football seasons and as the company invests the majority of its $300 million allocation into expanding its prediction market platform, FanDuel Predicts. Flutter Entertainment has recently seen its share price decline by roughly 49% year‑to‑date. The substantial investment aims to accelerate the development of the exchange, enhance customer acquisition, and attract additional sports bettors throughout the United States. The 2026 World Cup is anticipated to serve as the first comprehensive demand test for FanDuel Predicts, providing an opportunity for the company to regain market share from emerging event‑contract operators. The tournament, scheduled from early June to mid‑July, will be followed by a series of heightened promotional initiatives designed to re‑engage bettors and narrow performance gaps. Wedbush’s recommendation aligns with broader Wall Street consensus, as 19 of the 25 analysts covering the stock have issued buy or strong‑buy ratings, according to LSEG data.</p>
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<p><a href="https://www.cnbc.com/2026/06/16/the-2026-fifa-world-cup-could-boost-fanduels-owner-wedbush-says.html">Source link </a></p>
