
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.