Brian Christopher Slots Store heir home games. These days, the broad consensus in the analyst community on Penn National Gaming (NASDAQ:PENN) stock is that the name is a “buy. ” It’s rare that opinions on the casino firm deviate wildly on the same day. big fish casino hack android apk crazy 4 poker free online Traders have a lot to ponder with Penn National, as one analyst rips the name while another says it’s going to 0. Mountaineer Casino Covid Vfdp (Image: Associated Press)However, that’s happening today, as Deutsche Bank’s Carlo Santarelli reiterates a “sell” rating on the gaming company, though he did raise his price target on the stock to from . how to withdraw money from borgata online casino That’s a far cry from the bullishness extolled by Union Gaming’s John DeCree, who placed a 0 estimate on the name. slot machine gambling online

DeCree’s Wall Street-high forecast emerges just a day after a counterpart lifted his Penn projection to . Santarelli didn’t hold back in a scathing commentary on Penn stock. We think PENN has largely benefited from the retail community turning the ticker into an internet meme of sorts, thereby creating momentum in the stock that has attracted institutional investors from verticals outside of the traditional gaming arena,” said the Deutsche Bank analyst. free slots for fun Santarelli’s call is undoubtedly bold. His price forecast is less than half the Street consensus of almost . kansas star casino wichita There’s also some history here.

Key Insights and Expert Analysis

In June, the analyst issued a “sell” rating on Penn, drawing a stinging online rebuke from Barstool Sports founder David Portnoy. In a viral, expletive-laden rant, Portnoy basis valley forge casino open todayhed Santarelli and, on multiple occasions intentionally mispronounced the analyst’s surname. Penn owns 36 percent of Barstool, a relationship that’s mostly lauded on Wall Street. turtle lake casino gift certificates Fundamentals LackingWhile Santarelli’s bear rating on Penn could be construed as a case of bad blood, the reality is the analyst isn’t fawning over the prospects of the US iGaming and sports wagering markets. when is santa ana casino opening Rather, he sees limited opportunities on those fronts. free online slot machines canada As investors realize online casinos and sports betting will have difficulty living up to lofty expectations, Penn stock could be vulnerable to “a considerable contraction,” said the analyst. desert diamond casino glendale

Enthusiasm for those segments is a primary reason why investors bid the name higher by almost 1,900 percent from its March lows. boulder station casino open royal ace casino code “Couple this with a big picture ‘TAM’ story that ‘can’t be disproved’, sprinkle in some slides about Twitter followers and Instagram impressions, and you create a narrative that largely abandons fundamental rationale,” said Santarelli. The analyst adds investors are likely to be left disappointed upon discovering the amount of sports betting market share that’s readily obtainable for operators. Bull CallObviously, Union Gaming’s DeCree has a different view on Penn. His 0 price target is nearly 50 percent above consensus and implies upside of almost 33 percent from where the stock currently trades. In fact, his outlook runs in the opposite direction of Santarelli’s.

“We contend PENis valley forge casino open todayN is one of the best plays for both the COVID reopening trade and long-term total addressable market (TAM) in US iCasino and sports betting,” said DeCree. harrah s cherokee casino membership The Union Gaming analyst values Penn at a lower multiple than DraftKings (NASDAQ:DKNG). Oxford Casino Hotel Event Center Nwdd owing to the latter’s head start in online sports betting. But he says that gap should tighten as Penn “continues to ramp up and execute. cashman casino coin generator ” Twin River Worldwide Holdings (NYSE:TRWH) is purchasing Jumer’s Casino & Hotel in Rock Island, Ill. restaurants in angel of the winds casino for 0 million in cash, marking the company’s first move into the Prairie State.

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