Admiral Casino Southampton heir home games. free slot games 2020 These days, the broad consensus in the analyst community on Penn National Gaming (NASDAQ:PENN) stock is that the name is a “buy. viejas casino fireworks casino ocean city maryland ” It’s rare that opinions on the casino firm deviate wildly on the same day. Traders have a lot to ponder with Penn National, as one analyst rips the name while another says it’s going to 0. (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 . Royal Ace Casino Bonus Hxtd That’s a far cry from the bullishness extolled by Union Gaming’s John DeCree, who placed a 0 estimate on the name. 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. scarlet pearl casino biloxi 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.

Santarelli’s call is undoubtedly bold. His price forecast is less than half the Street consensus of almost . Chukchansi Casino Net Worth Rysu There’s also some history here. In June, the analyst issued a “sell” rating on Penn, drawing a stinging online rebuke from Barstool Sports founder David Portnoy. free casino slots china shores In a viral, expletive-laden rant, Portnoy baswhen will santa ana casino openhed 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. 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. Rather, he sees limited opportunities on those fronts. royal ace casino phone number valley forge casino blackjack 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.

Key Insights and Expert Analysis

Enthusiasm for those segments is a primary reason why investors bid the name higher by almost 1,900 percent from its March lows. Seminole Casino Fort Lauderdale Vcsp “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. cool cat casino free bonus 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. free online poker tournaments for real money reviews of desert diamond casino Bull CallObviously, Union Gaming’s DeCree has a different view on Penn. resorts casino mohegan sun 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 PENwhen will santa ana casino openN 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. free online ainsworth slots paragon casino sportsbook The Union Gaming analyst values Penn at a lower multiple than DraftKings (NASDAQ:DKNG). online casino no deposit bonus usa 2021 online casino poker echtgeld owing to the latter’s head start in online sports betting.

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