\u201cCouple this with a big picture \u2018TAM\u2019 story that \u2018can\u2019t be disproved\u2019, sprinkle in some slides about Twitter followers and Instagram impressions, and you create a narrative that largely abandons fundamental rationale,\u201d<\/strong> said Santarelli.<\/p>\nThe analyst adds investors are likely to be left disappointed upon discovering the amount of sports betting market share that’s readily obtainable for operators.<\/p>\n
Bull Call<\/h2>\n
Obviously, Union Gaming’s DeCree has a different view on Penn. His $100 price target is nearly 50 percent above consensus and implies upside of almost 33 percent from where the stock currently trades. In fact, his outlook runs in the opposite direction of Santarelli’s.<\/p>\n
\u201cWe contend PENN is one of the best plays for both the COVID reopening trade and long-term total addressable market (TAM) in US iCasino and sports betting,\u201d said DeCree.<\/p>\n
The Union Gaming analyst values Penn at a lower multiple than DraftKings (NASDAQ:DKNG). owing to the latter’s head start in online sports betting. But he says that gap should tighten as Penn \u201ccontinues to ramp up and execute.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"These days, the broad consensus in the analyst community on Penn National Gaming (NASDAQ:PENN) stock is that the name is a \u201cbuy.\u201d It’s rare that opinions on the casino firm deviate wildly on the same day. However, that’s happening today, as Deutsche Bank’s Carlo Santarelli reiterates a \u201csell\u201d rating on the gaming company, though he […]<\/p>\n","protected":false},"author":46,"featured_media":150820,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Penn Stock Bashed by one Analyst, Another Says It's $100 Name<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n