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J.P. Morgan Thinks Penn National Gaming’s Stock is Going to Recover

J.P. Morgan analyst Joseph Greff maintained a Buy rating on Penn National Gaming (PENNResearch Report) yesterday and set a price target of $41.00. The company’s shares closed last Thursday at $35.14, close to its 52-week low of $26.46.

According to TipRanks.com, Greff is a 5-star analyst with an average return of 16.8% and a 58.4% success rate. Greff covers the Services sector, focusing on stocks such as Hilton Worldwide Holdings, Marriott International, and Caesars Entertainment.

Penn National Gaming has an analyst consensus of Strong Buy, with a price target consensus of $49.07, implying a 36.3% upside from current levels. In a report issued on July 20, Truist Financial also maintained a Buy rating on the stock with a $48.00 price target.

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The company has a one-year high of $86.40 and a one-year low of $26.46. Currently, Penn National Gaming has an average volume of 4.05M.

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Penn National Gaming, Inc. owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West and Midwest.. The Northeast segment consists of the following properties: Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway, Hollywood Gaming at Mahoning Valley Race Course, and Plain ridge Park Casino. The South and West segment comprises of the following properties: Zia Park Casino, Hollywood Casino Tunica, Hollywood Casino Gulf Coast, Boomtown Biloxi, M Resort, Tropicana Las Vegas, 1st Jackpot and Resorts. The Midwest segment controls the following properties: Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Argosy Casino Riverside, Hollywood Casino Lawrenceburg, Hollywood Casino St. Louis, and Prairie State Gaming. The company was founded in 1982 and is headquartered in Wyomissing, PA.

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