- Truist analyst Barry Jonas lowered the price target on Penn National Gaming Inc PENN to $60 from $65, implying a 63% upside.
- Meanwhile, Jonas maintained a Buy rating on the shares.
- Barry noted that the fundamentals in the quarter were strong due to rising pent-up demand as fears of Omicron subsided.
- The analyst specified that the stock in the Gaming group underperformed due to macro-related fears.
- Jonas remains optimistic about the gaming industry’s resiliency.
- Price Action: PENN shares are trading higher by 0.43% at $37.05 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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