As previously reported, BofA analyst Shaun Kelley downgraded Penn Entertainment to Neutral from Buy with a price target of $40, down from $45. He thinks growth momentum is levelling out after casino gaming stocks, and especially regional operators, were the largest "over-earners" in his coverage versus pre-COVID. Unlike other areas in consumer discretionary, estimates have not yet come down for the group, Kelley noted.
Published first on TheFly
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