Morgan Stanley Maintains PENN Overweight Rating

Morgan Stanley has issued a report reiterating the Overweight Rating On Penn National PENN. According to the report, "We expect recent momentum in PENN (stock +8% since mid-March) to continue as (1) weather / legislative pushback dissipates, (2) the company generates consistent, positive EBITDA growth throughout 2011, and (3) consensus estimates rise in advance of its Ohio projects opening in 2012." PENN has a $44 Price Target and closed Friday at $37.62 a share.