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Up almost 14 percent since the start of the fourth quarter, Penn National Gaming (NASDAQ:PENN) is proving resurgent among regional gaming equities, a theme some analysts believe could be durable. J. P. resorts casino jobs in atlantic city Ruby Slots Bonus Naum Morgan analyst Joseph Greff likes Penn National stock and sees a potential Tropicana sale as a catalyst. (Image: YouTube)In a note to clients Tuesday, J. P. Morgan analyst Joseph Greff reiterated an “overweight” rating on shares of Penn while boosting his price target on the stock to .

That’s eight percent above the Wall Street consensus of . 85 and about 23 percent higher than Monday’s close around . hollywood casino joliet illinois We continue to believe PENN offers a favorable risk/reward with an attractive valuation,” said Greff in the note. sycuan casino 4th of july fireworks Penn National, the operator of gaming properties under the Argosy and Hollywood brands, among others, has gained acclaimed this year in the Wall Street community due in part to the company’s exposure to the fast-growing US sports betting market. cliff castle casino website In addition to its footprint in its home state of Pennsylvania, one of the top domestic sports betting markets, the company operates properties in other twin.river casinolegal sports wagering states, such as Iowa and Nevada. scarlet pearl casino biloxi mibibippi phone number Penn National is positioned to take advantage of sports betting proliferation in the US, as the company is the largest gaming operator in Illinois, where sports betting is expected to launch next year. Penn also enjoys dominant market share in states that could soon approve sports wagering, such as Michigan, Missouri and Ohio.

Other CatalystsWall Street’s recent enthusiasm for the stock has been driven in large part by management’s plans to shore up the balance sheet, an effort that could include the sale of the Tropicana on the Las Vegas Strip. Our favorable view reflects a potential deleveraging catalysts via a sale of Trop LV/PSG, and an attractive valuation at lease-adjusted 6. 9x 2020E enterprise value/earnings before interest, taxes, depreciation and amortization (EBITDA) and 16% free cash flow

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