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.
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