Soleil Securities Initiates Coverage on Pinnacle Entertainment (PNK) with a Buy
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Soleil Securities initiates coverage on Pinnacle Entertainment, Inc. (NYSE: PNK) with a Buy. Price target $13.
Soleil analyst says, "We believe investors may be overlooking the value of PNK's non-cash-generating assets, namely its land in Atlantic City, Baton Rouge, and Reno which we estimate could be worth $3-$8/share...With a $7 value in our bear case and potential upside of $19 in our bull case. If the Missouri loss limit is lifted in the November election, we believe there could be $1-$2/sh of additional value."
Pinnacle Entertainment, Inc. (Pinnacle) is a developer, owner and operator of casinos and related hospitality and entertainment facilities.
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