Nollenberger Capital Starts Trump Entertainment (TRMP) at Sell
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Nollenberger Capital initiates coverage on Trump Entertainment Resorts, Inc. (NASDAQ: TRMP) with a Sell rating and $14 price target.
Analyst David Barteld said, "In our view, the current share price overvalues Trump's turnaround story and does not recognize the competitive threats looming on the Atlantic City horizon. Barteld also said, "new gaming markets in Pennsylvania and New York City should also be seen as competitive threats."
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