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Nov 25 2025, 10:45 GMT
We update forecasts to reflect the Q3 update and refreshed guidance. We also now factor in the investment and return in FanDuel Predicts. We adjust our valuation to reflect the peer group de-rating and to cover UK tax risk. Our new price target of $307 gives almost 60% upside. Despite an intense period of news flow, and some undoubted headwinds such as UK tax, little has changed in relation to its structural advantages. The current share price provides a compelling entry point.
Nov 25 2025, 10:45 GMT