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Fly News Breaks for August 5, 2019
Aug 5, 2019 | 07:31 EDT
Penn National Gaming is the most oversold and undervalued stock in the gaming universe, Barclays analyst Felicia Hendrix tells investors in a research note titled, simply, "Underappreciated and Oversold." With 64% upside potential to her price target of $31, the analyst thinks Penn National should be "on the focus list for deep value long only accounts." The company's "strong" free cash flow, focus on cost cutting and delevering, and "solid" underlying fundamentals should place it high on lists for investors "who have the luxury of time," writes Hendrix. She believes Penn's 21% free cash flow yield "underscores the value that lies ahead."
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