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Things change fast in financial markets, and Penn National Gaming (NASDAQ:PENN) is proving that point. Backed by an 8.52 percent gain on Thursday, Penn stock is higher by 10.57 percent. That surge is prompting one analyst to alter his price forecast on the gaming name.
The Barstool Sportsbook at the Greektown Casino in Detroit, seen here. An analyst is highly bullish on Penn stock. (Image:
Reading Eagle)
After the close of US markets Thursday, Stifel analyst Steven Wieczynski issued a note to clients in which he reiterated a “buy” rating on Penn, with a new price target of $124. That new forecast comes just a few days after the analyst tagged the regional casino operator with a $118 estimate. It closed at $118.34 yesterday.