Canaccord lowered the firm’s price target on Penn Entertainment (PENN) to $21 from $26 and keeps a Buy rating on the shares. The firm noted digital gambling stocks sold off as investors grew concerned about state reports of decelerating handle trends in December that worsened in January. The latest state data continues to point to broadly in line Q4 results for digital gaming operators, with stronger hold and a rebound of iGaming growth in December offsetting the weaker handle.
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