Stifel raised the firm’s price target on Penn Entertainment (PENN) to $19 from $17 and keeps a Hold rating on the shares ahead of the Q2 earnings report on August 7. Shares have outperformed nicely alongside the broader regional gaming sector, with Stifel telling investors in a research note that further sector multiple appreciation is difficult to underwrite, though the thesis laid out remains intact implying a path to $24/share at current multiples.
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