Why Penn National Gaming's Stock Is Trading Higher Today

Penn National Gaming PENN shares are trading higher on Wednesday amid economic optimism, stemming from some U.S. states reopening businesses.

The reopening of U.S. businesses and the easing of some restrictions could benefit the company as consumers will begin to spend more.

Morgan Stanley also maintained an Overweight rating on the company's stock and raised its price target from $21 to $32.

Penn National Gaming is the operator of gaming and racing properties and video gaming terminal operations in the U.S. It offers live sports betting at our properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia.

Penn National Gaming shares were trading up 9.32% at $32.02 at time of publication. The stock has a 52-week high of $39.18 and a 52-week low of $3.75.

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