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Benzinga
Benzinga
Business
Shivani Kumaresan

Truist Cuts Penn National Gaming Price Target By 7%

Penn Nasdaq Omicron
  • Truist analyst Barry Jonas lowered the price target on Penn National Gaming Inc (NASDAQ:PENN) to $60 from $65, implying a 63% upside.
  • Meanwhile, Jonas maintained a Buy rating on the shares.
  • Barry noted that the fundamentals in the quarter were strong due to rising pent-up demand as fears of Omicron subsided.
  • The analyst specified that the stock in the Gaming group underperformed due to macro-related fears.
  • Jonas remains optimistic about the gaming industry’s resiliency.
  • Price Action: PENN shares are trading higher by 0.43% at $37.05 on the last check Tuesday.
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