Barclays Maintains an 'Overweight' on Pinnacle Entertainment (PNK); Still in the Middle Innings

Barclays maintains an 'Overweight' on Pinnacle Entertainment (NYSE: PNK), PT $19.

Barclays analyst says, "PNK remains our favorite gaming stock. Despite embarking on numerous initiatives to cut costs and optimize the slot floor, the company still faces significant upside, in our view, driven by improving gross margins. Now, with the April 4 launch of the company's new loyalty card program, mychoice, Pinnacle stands poised to bolster the strong cost foundation built over the past year with revenue growth."

"Management was also optimistic that Ohio would eventually legalize slots at the racetracks, which would allow Pinnacle to build a casino facility at the River Downs racetrack at a key location in Cincinnati."

For more ratings news on Pinnacle Entertainment click here and for the rating history of Pinnacle Entertainment click here.

Shares of Pinnacle Entertainment closed at $13.10 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Cummins (CMI) PT Lowered to $675 at Jefferies
• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results