Jefferies Lowers Price Target on Penn National (PENN), Keeps Buy Rating

Jefferies trimmed its price target on Penn National Gaming (NASDAQ: PENN) from $51 to $49 following Q3 results, but retained its Buy rating.

The firm comments, "PENN's 3Q11 performance and financial guidance reflect relatively stable consumer trends; however the complex dynamics for the company could weigh on the shares in the near term. Growth projects offset by competitive impact could result in a moderate 2012. Upside remains attractive at present levels and we reiterate our BUY rating."

For more ratings news on Penn National Gaming click here and for the rating history of Penn National Gaming click here.

Shares of Penn National Gaming closed at $37.13 yesterday.

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