Penn National Gaming Lowered to Underperform at Merrill Lynch (PENN)
Penn National Gaming (NASDAQ:PENN) was downgraded by equities research analysts at Merrill Lynch from a “buy” rating to an “underperform” rating in a research note issued to investors on Tuesday, Stock Ratings News reports. They currently have a $10.00 price objective on the stock, down from their previous price objective of $17.00. Merrill Lynch’s target price would indicate a potential downside of 13.64% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. downgraded shares of Penn National Gaming from a “buy” rating to an “underperform” rating in a research note to investors on Tuesday. They now have a $10.00 price target on the stock, down previously from $17.00. Separately, analysts at Deutsche Bank cut their price target on shares of Penn National Gaming from $19.00 to $17.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Penn National Gaming from $15.00 to $13.00 in a research note to investors on Wednesday, January 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Penn National Gaming has an average rating of “Hold” and a consensus target price of $25.01.
Penn National Gaming, Inc (NASDAQ:PENN) is a diversified owner and manager of gaming and pari-mutuel properties.
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