Wells Fargo analyst Trey Bowers upgraded Penn Entertainment (PENN) to Equal Weight from Underweight with a price target of $16, up from $15. The firm cites the company’s improved free cash flow outlook for the upgrade. Penn sees 2026 adjusted free cash flow growing $500M on slight land-based growth, break-even interactive, and lower spending, the analyst tells investors in a research note. Wells is now incrementally more positive on Penn shares given its expectation of improved free cash flow.
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:
- Penn Entertainment upgraded to Equal Weight from Underweight at Wells Fargo
- PENN Entertainment Targets Strong 2026 Growth After Solid Year-End Performance
- Penn Entertainment reports Q4 adjusted EPS 7c, consensus (16c)
- Kalshi fines former governor candidate, MrBeast employee, WSJ says
- PENN Upcoming Earnings Report: What to Expect?