PENN Entertainment falls after report BofA downgrades to 'neutral'

PENN Entertainment

13/05/2024 14:02

** Casino gaming company PENN Entertainment's shares
 PENN.O  fall 3% to $15.58 premarket
    ** BofA downgrades PENN to "neutral" from "buy", according
to a Seeking Alpha report
    ** ESPN Bet business will generate higher losses for longer
than anticipated, offsetting some of the largely stable regional
gaming trends, the report cites the brokerage as saying
    ** Of the 20 brokerages covering the stock, 9 rate "buy" or
higher and 11 "hold"; median PT is $23 - LSEG data
    ** Stock down 38% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))