Penn Entertainment price target lowered to $24 from $25 at Mizuho

Mizuho lowered the firm’s price target on Penn Entertainment (PENN) to $24 from $25 and keeps an Outperform rating on the shares post the Q1 report. With underlying core trends sequentially improving, a tax bill potentially positively impacting the low and mid consumer in the second half of the year, which is not being considered in investor sentiment, and interactive “optionality, Penn shares “should grind higher,” the analyst tells investors in a research note.