J.P. Morgan Maintains Overweight on Penn National (PENN)

J.P. Morgan is out with its report today on Penn National PENN, maintaining Overweight. In a note to clients, J.P. Morgan writes, "We remain Overweight here given (1) PENN's ability to control costs and drive margin improvement in a stabilizing regional casino revenue environment, where promotional activity and marketing dollars remain rational, (2) growth associated with table games in PA and WV, its new MD slot facility, (3) significant future (2012) growth drivers related to its Ohio and Kansas new-build projects, (4) and fairly conservative 2011 guidance." At the time of posting, shares of PENN were trading pre-market at $38.87, up 4.10% from Wednesday's close.