Stocks Are Defecting to New York. Buy This S&P 500 Shoo-In and Antidote to Nvidia.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 28 2024
0mins
Source: Barron's
- Smurfit Kappa Merger: Smurfit Kappa, a paper and packaging company, is set to merge with WestRock in a deal worth $11.15 billion, creating a powerhouse worth over $20 billion.
- Market Impact: The completion of the merger will likely lead to Smurfit being included in the S&P 500 index, attracting new investors and potentially boosting the stock price.
- Listing in New York: Smurfit's move to list in New York follows a trend of European companies shifting listings to attract higher valuations from American investors.
- Financial Outlook: Positive fundamentals include expectations of $400 million pre-tax synergies post-merger, strong exposure to consumer goods, and annual adjusted earnings of around $5.5 billion.
- Analyst Recommendations: Deutsche Bank analyst Kevin Fogarty rates Smurfit Kappa as a Buy with a price target of £42 ($53), implying an upside of more than 18% from the current share price.
Analyst Views on FLUT
Wall Street analysts forecast FLUT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FLUT is 296.77 USD with a low forecast of 228.00 USD and a high forecast of 381.46 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
26 Analyst Rating
23 Buy
3 Hold
0 Sell
Strong Buy
Current: 181.190
Low
228.00
Averages
296.77
High
381.46
Current: 181.190
Low
228.00
Averages
296.77
High
381.46
About FLUT
Flutter Entertainment plc is an online sports betting and iGaming operator. Its segments include the United States (U.S.), United Kingdom and Ireland (UKI), Australia and International. The U.S. segment offers sports betting, casino, DFS and horse racing wagering products to players across various states in the United States, mainly online but with sports betting services also provided through retail outlets and certain online products in the province of Ontario in Canada. The UKI segment offers sports betting (sportsbook), iGaming products and other products through its Sky Betting & Gaming, Paddy Power, Betfair and tombola brands. Its Australia segment offers online sports betting products through its Sportsbet brand. The International segment includes its operations in 100 global markets and offers sports betting, casino, poker, rummy and lottery, mainly online. This segment includes Sisal, PokerStars, Snai, Betfair International, Adjarabet, MaxBet, Betnacional, and other brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
