The future is brilliant for Penn Entertainment , in response to JPMorgan. The agency upgraded the net sports activities betting inventory to chubby from impartial and raised its value goal to $27 per share from $19. JPMorgan’s forecast implies practically 35% upside from Thursday’s shut. PENN YTD mountain Penn Entertainment inventory. “We presently see a good risk-reward, with sightline to a bottoming of its regional land-based-casino cashflow era (simple comparisons serving to), with a path to combination progress (albeit modest) given $850m value of 4 capital initiatives starting to bear fruit and in the end generate enticing double-digit cash-on-cash-returns starting in 2H25 and later into 2026,” analyst Joseph Greff stated. The analyst added that, though he views the expansion of ESPN Bet as the largest driver for the inventory, “we see a situation of modestly constructive phase EBITDA (in 2026) as not priced within the shares” which is “not that rather more than PENN’s estimated annual market entry charges.” “This is noteworthy as a result of if PENN is lower than profitable in Interactive profitability, the corporate merely may/would shut it down and milk the $60m-ish of market entry charges,” Greff added. Penn Entertainment has slipped greater than 23% in 2024. Shares have been up greater than 5% within the premarket following the improve. Of the 21 analysts who cowl the inventory, 12 price it as a maintain, in response to LSEG.
JPMorgan upgrades this sports activities betting inventory, says it might leap greater than 30%
