Credit Suisse Reiterates Outperform, Raises PT On Penn National Gaming Following Plainridge Tour

In a report published Thursday, Credit Suisse analyst Joel Simkins reiterated an Outperform rating on

, and raised the price target from $17.00 to $19.00. In the report, Credit Suisse noted, "We recently toured PENN's new Plainridge casino with management, including CEO Tim Wilmott and CFO Saul Reibstein, as well as property GM Lance George. Plainridge will be the first casino up and running in MA when it opens, likely in June 2015, for at least a 2-3 year period conservatively. Being first to market should help PENN establish its database and consumer awareness in addition to a very attractive ROI out of the box. We have increased our estimates, primarily for Plainridge, following our trip." Penn National Gaming closed on Wednesday at $16.13.