Zacks Research Boosts PENN Entertainment to Strong-Buy
Zacks Research raised PENN Entertainment to strong buy from hold. The consensus rating remains moderate buy with a $24 average target. PENN reported quarterly EPS of $0.44, beating the $0.37 estimate, and revenue of $1.86 billion, up 5.2% from a year earlier.
Zacks Research moved PENN Entertainment from hold to strong-buy. The wider analyst view is less aggressive: consensus moderate buy, average target $24. Recent calls include Benchmark and Barclays lifting targets, Piper Sandler upgrading to buy, Citigroup keeping market outperform, and Morgan Stanley staying underperform. Analyst counts: one strong buy, fourteen buy, five hold, one sell.
PENN's latest quarter showed EPS $0.44 versus $0.37 expected, with revenue $1.86 billion, up 5.2% year over year. The prior-year quarter had a loss per share. Shares opened at $15.37; institutions hold 91.69%. The company's market cap was $2.06 billion, with a 52-week range of $11.65 to $22.36.
An upgrade like this may shape how retail and institutional investors view PENN, potentially influencing trading activity and near-term share price. If sentiment improves, the company could find it easier to raise capital or refinance debt, which may affect employees, casino customers, and communities tied to its operations. A higher rating does not guarantee results, and the mixed analyst views suggest investors could still face volatility. Broader gambling-sector trends and regulatory changes may also matter.