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Penn Entertainment price target raised to $27 from $25 at Susquehanna

Susquehanna raised the firm’s price target on Penn Entertainment (PENN) to $27 from $25 and keeps a Positive rating on the shares. The firm raised its 2Q digital estimates to $290M to reflect better growth in 2Q while maintaining retail revenue/adjusted EBITDA of $1.44B/$493m. Regional retail casino trends have been more stable than feared, and they believe the company’s consistent execution of maintaining a premium product offering in nearly all of its markets, has created an incremental competitive moat versus its comparable regional peers.

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