Deutsche Bank upgrades Penn Entertainment to Buy and raises price target
Deutsche Bank upgraded Penn Entertainment (PENN) to a Buy rating, increasing its price target from $23 to $25. The bank cited improving regional gaming trends and resilient fundamentals in Las Vegas locals markets. Following the note, the stock jumped 5.3% in pre‑market trading before settling at $15.74, up about 4.2% from the prior close. The upgrade comes as the company’s theScore Bet secured a multiyear NFL partnership in Canada.
Why it matters
The upgrade and higher target suggest the bank sees roughly 66% upside, which could attract buying interest and support the stock’s recent rebound. Analysts note the move may help the share recover from a 29% decline over the past three months.
Key facts
- 1Deutsche Bank raised its price target on Penn Entertainment to $25 from $23. cnbc.com
- 2The bank upgraded the stock to Buy from Hold. cnbc.com
- 3Shares fell roughly 29% over the past three months through Monday's close. cnbc.com
- 4Penn shares jumped 5.3% in the pre‑market session after the upgrade. financialcontent.com
- 5The stock later settled at $15.74, up 4.2% from the previous close. financialcontent.com
- 6Penn is trading 28.7% below its 52‑week high of $22.06. financialcontent.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.