Janney Capital Remains Bullish on Penn National Gaming (PENN) Following Plainridge Park Casino's First Week

Janney Capital reiterates a Buy rating and $19.00 price target on Penn National Gaming (NASDAQ: PENN) following Plainridge Park Casino's first seven days. Analyst Brian McGill believes that the market is under served, and Plainridge is likely to stay close to capacity constrained.

McGill commented, "At the end of last week, it was reported that Plainridge Park Casino saw revenues of $6.1 mln for its first seven days. The win per day came in at over $700, and while we expect it to fall by 25% from here, we believe there will be upside to consensus estimates for the property. We generally expect a strong June in most regional markets and this could drive upside to our PENN estimates and fair value."

For an analyst ratings summary and ratings history on Penn National Gaming click here. For more ratings news on Penn National Gaming click here.

Shares of Penn National Gaming closed at $18.35 yesterday.

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