Penn Entertainment price target lowered to $19 from $20 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Penn Entertainment (PENN) to $19 from $20 and keeps an Equal Weight rating on the shares. Overall, Q3 brick and mortar trends were “sluggish,” but digital has been “robust,” says the analyst, who raised the firm’s online sports betting market size estimate but lowers flow-through estimates in conjunction with a Q3 preview for the casino gaming group.

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