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Benzinga
Benzinga
Business
Wayne Duggan

Morgan Stanley Upgrades Penn National Gaming, Says Barstool Provides 'Unique Customer Acquisition Opportunity'

It's been a brutal year for Penn National Gaming, Inc (NASDAQ:PENN) investors, but the stock got a much-needed boost from a high-profile analyst upgrade on Monday.

The Analyst: Morgan Stanley analyst Thomas Allen upgraded Penn from Equal Weight to Overweight but cut his price target from $55 to $51. Also in the note, Allen downgraded Boyd Gaming Corporation (NYSE:BYD) from Overweight to Equal Weight and cut his price target from $82 to $76.

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