Market Overview

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

Share:
Related PENN
Gambling Stock Q3 Earnings Roundup: Wynn, Las Vegas Sands, And More
Wall Street's M&A Chatter From October 5: Penn National-Pinnacle, Onvia-Deltek, Boeing-Aurora, Toshiba
Penn National Gaming continues to track higher (Seeking Alpha)

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
Nov 2017BarclaysMaintainsOverweight
Oct 2017Telsey Advisory GroupDowngradesOutperformMarket Perform
Oct 2017Morgan StanleyMaintainsEqual-Weight

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!

Partner Center