Entain Share Price Sell-Off ‘Overdone’ Says JPMorgan

Entain (LON: ENT) shares received a boost after JPMorgan upgraded the betting group to Overweight from Neutral, arguing that the recent share price weakness has gone too far. 

The bank cut its price target to 1,090p from 1,150p, but said it sees a more attractive risk-reward balance following sector-wide adjustments to its 2026 European leisure outlook.

JPMorgan is now “most constructive” on hotels, where it sees a “clear runway” for outperformance next year, but highlighted Entain as one of the most compelling opportunities within the broader leisure universe. 

The firm believes the sharp decline in the stock has been “overdone”, pointing in particular to improving visibility in the UK after the autumn budget.

According to the bank, the UK market is now ‘de-risked’, easing one of the biggest investor concerns following the government’s budget announcement last week. 

JPMorgan also pointed to the 2026 World Cup as a positive catalyst for online betting volumes, adding that the tournament should help stabilise sentiment and support medium-term performance.

The upgrade follows a similar message from UBS last week. UBS, which maintained a Buy rating, trimmed its price target to 1,200p from 1,300p, noting that while the UK tax increase was larger than expected, the overhang has now cleared, creating a cleaner investment backdrop.

With two major banks signalling that downside risks may now be priced in, the focus shifts back to execution, regulatory stability and the potential for sporting events to reignite growth momentum in 2026.

Entertain shares are up around 13% so far this year.