JPMorgan analyst Joseph Greff said he likes Penn National's strategic partnership with Barstool Sports, including the incentive structure for Barstool management and employees and Penn's optionality for increasing its stake. He said experience in New Jersey shows that existing and well-known sports brands have dominated sports betting market share and he could envision sizable market share growth for Penn via the leveraging of the brand. Also, Barstool's user demographics should complement Penn's more female and much older customer demographic, said Greff, who keeps an Overweight rating on Penn shares and raised his price target on the stock to $33 from $29 following the deal announcement.