Peppermill Casino Bingo 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. Free Signup Bonus No Deposit Casino 9 Masks Of ” It’s rare that opinions on the casino firm deviate wildly on the same day. roulette table in casino Traders have a lot to ponder with Penn National, as one analyst rips the name while another says it’s going to 0. video poker casino search (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 . black hawk casino masks That’s a far cry from the bullishness extolled by Union Gaming’s John DeCree, who placed a 0 estimate on the name. viejas casino age valley forge casino ballroom 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. mgm grand casino cleveland ohio 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. santa ana casino job openings blackjack casino 777 His price forecast is less than half the Street consensus of almost . hard rock casino open 24 hours There’s also some history here. casino zoom background In June, the analyst issued a “sell” rating on Penn, drawing a stinging online rebuke from Barstool Sports founder David Portnoy. slotocash casino no deposit bonus codes 2019 Brian Christopher Slots Cruise Nljs Australia In a viral, expletive-laden rant, Portnoy basresorts casino atlantic city addrebhed Santarelli and, on multiple occasions intentionally mispronounced the analyst’s surname.

Key Insights and Expert Analysis

Penn owns 36 percent of Barstool, a relationship that’s mostly lauded on Wall Street. reviews on las atlantis casino 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. 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. Enthusiasm for those segments is a primary reason why investors bid the name higher by almost 1,900 percent from its March lows. Downstream Casino Open Yet Zciq “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. fanduel casino free play 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 PENresorts casino atlantic city addrebN 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. The Union Gaming analyst values Penn at a lower multiple than DraftKings (NASDAQ:DKNG). 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.

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