Flutter shares drop as US growth doubts weigh despite solid Q1 results

Flutter Entertainment reported solid Q1 revenue and earnings, but shares fell after trimming full-year guidance. The market is concerned about stalled US growth, with US stake down 9% in the quarter. Management attributes this to non-structural factors and expects momentum to improve with new products and major sports events. Jefferies remains positive, rating Flutter as a buy with a $210 price target, citing upcoming growth drivers like the FIFA World Cup and new product launches.