Roth Capital Starts Penn National Gaming (PENN) at Buy
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Roth Capital analyst Edward Engel initiates coverage on Penn National Gaming (NASDAQ: PENN) with a Buy rating and a price target of $107.00.
The analyst comments "We initiate coverage on PENN with a Buy rating, where we believe Barstool and myChoice offer the most efficient and complementary customer acquisition channels in Online Gaming. While investors are concerned with Penn's ability to bring Online Sports Betting (OSB) technology in-house, we see an opportunity to adapt a hybrid model where Penn leverages an evolving ecosystem of highly specialized risk and trading functions from emerging thirdparty B2B service providers."
Shares of Penn National Gaming closed at $72.14 yesterday.
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