Penn National Gaming Gets a Buy Rating from Deutsche Bank

By Jason Carr

Deutsche Bank analyst Carlo Santarelli assigned a Buy rating to Penn National Gaming (NASDAQ: PENN) on November 12 and set a price target of $29. The company’s shares closed yesterday at $27.15, close to its 52-week high of $27.43.

According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 14.0% and a 74.1% success rate. Santarelli covers the Services sector, focusing on stocks such as Melco Resorts & Entertainment Limited, International Game Technology, and Marriott International.

Penn National Gaming has an analyst consensus of Moderate Buy, with a price target consensus of $27.

Based on Penn National Gaming’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $806 million and quarterly net profit of $789 million. In comparison, last year the company earned revenue of $766 million and had a net profit of $46.54 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is neutral on the stock.

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Penn National Gaming, Inc. owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The company operates its business through three segments: Northeast, South & West and Midwest.