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Fly News Breaks for June 8, 2018
PENN
Jun 8, 2018 | 07:28 EDT
JPMorgan analyst Joseph Gref upgraded Penn National Gaming to Overweight from Neutral and raised his price target for the shares to $40 from $26 following a period of restriction. The analyst sees a favorable setup for the shares given an "attractive regional gaming landscape" and the company's margin improvement initiatives. He "reasonably" sees adjusted EBITDAR margins expanding into the low 30%s from 2017's 27.9%.
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