Penn Entertainment price target lowered to $25 from $30 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Penn Entertainment to $25 from $30 and keeps a Hold rating on the shares. While land-based revenues and margins beat expectations, the interactive segment was impacted by more ESPN Bet sign-ups than expected, which negatively impacted revenue and led to interactive losses which were nearly double expectations due to the impact from new user promotions, the analyst tells investors in a research note.