Market Overview

UPDATE: Deutsche Bank Reinitiates Coverage on Penn National Gaming at Buy

Share:
Related PENN
Penn National Shares Indicated Higher Following Morgan Stanley Upgrade
Goldman Sachs Has Mixed Feelings About U.S. Gaming Stocks

Deutsche Bank has reinitiated coverage of Penn National Gaming Inc. (NASDAQ: PENN) maintaining Buy rating and reduced price target to $48 from $52.

Deutsche Bank noted, "[we] are reinitiating coverage and maintaining our Buy rating. We continue to view PENN as the regional leader and while PENN has been a crowded sell-side Consensus idea, we think shares are poised to work from current levels for the reasons we detail in this note. Our PT goes to $48 from $52 on lower target multiples on 2014E EBITDA and the inclusion of the impact stemming from the recent MD Question 7 vote on Charles Town."

Penn National Gaming closed at $39.47 on Wednesday.

Latest Ratings for PENN

DateFirmActionFromTo
Jun 2016Morgan StanleyUpgradesUnderweightEqual-weight
Feb 2016Stifel NicolausMaintainsBuy
Jan 2016Telsey Advisory GroupUpgradesOutperformMarket Perform

View More Analyst Ratings for PENN
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Initiation Analyst Ratings

 

Related Articles (PENN)

View Comments and Join the Discussion!