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Penn Entertainment price target lowered to $17 from $19 at Stifel

Stifel lowered the firm’s price target on Penn Entertainment (PENN) to $17 from $19 on macro risk, while keeping a Hold rating on the shares. The firm notes the company reported a -5% Q1 adjusted EBITDAR miss on one-time corporate costs, though reiterating FY25 KPI/revenue/EBITDAR guidance normalized for adverse sport outcomes and one-times.

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