In a report published Tuesday, Deutsche Bank analyst Carlo Santarelli reiterated a Buy rating on Penn National Gaming PENN, and raised the price target from $64.00 to $68.00.
In the report, Santarelli noted, “We see legs left post the run in PENN shares. We 1) identify the next catalysts for PENN shares and provide the rationale for our view that meaningful upside remains, 2) raise our price target to $68 from $64, and 3) provide our 1Q13 earnings preview. In short, we believe the recent run in PENN shares is justified and we see continued strength through earnings as incremental upside catalysts exist in the 2Q. We are buyers at current levels and we are reaffirming our Buy rating.”
Penn National Gaming closed on Monday at $55.46.
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