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Fly News Breaks for July 2, 2015
PENN
Jul 2, 2015 | 08:57 EDT
Morgan Stanley believes Penn National Plainridge Park casino consensus expectations for $250M revenue and $60M EBITDA in 2016 are too high. The firm said other city property openings within proximity suggest lower win, unit and spend, and will likely face capacity issues. Morgan Stanley rates Penn National an Underweight with a $15 price target and says risk/reward is unfavorable.
News For PENN From the Last 2 Days
PENN
Apr 16, 2024 | 09:48 EDT
PENN
Apr 16, 2024 | 07:23 EDT
As previously reported, Benchmark analyst Mike Hickey initiated coverage of Penn Entertainment with a Hold rating and no price target. While the firm has concerns about the ability of ESPN Bet to significantly influence the U.S. online sports betting market, it also thinks these issues are already reflected to "some degree" in the company's current valuation and contends that given the "diminished valuation" that shares could see a potential valuation reset if ESPN Bet can gradually capture a material market share.
PENN
Apr 16, 2024 | 06:16 EDT
