Penn Entertainment price target raised to $36 from $33 at Barclays

Barclays raised the firm’s price target on Penn Entertainment to $36 from $33 and keeps an Overweight rating on the shares. The deal with ESPN “drastically improves” the chances for Penn to succeed in digital gaming long term, the analyst tells investors in a research note. The deal puts Penn in a “drastically better position” to build long-term value within digital gaming than it was in prior to this announcement, says the firm.