Jefferies raised the firm’s price target on Penn Entertainment (PENN) to $17 from $16 and keeps a Hold rating on the shares. In revisiting casino stocks, the firm focused on growth potential both organically and from capital projects, as well as the execution by management teams rather than the “disparate” valuations. Jefferies told investors in a research note that the Street’s patience for limited-productivity digital gaming investments by land-based operators has worn thin.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PENN:
- Gaming and Leisure Properties provides update on financing, development
- Penn Entertainment completes rebrand of OSB platform to theScore Bet
- Penn Entertainment, Kambi Group extend retail sportsbook platform agreement
- PENN Entertainment Litigation Committee Report Filed
- Nevada reports October statewide gaming win up 4.95% to $1.35B