Just weeks before the Kentucky Derby, Bender bumped his price target on that gaming stock to $298 from $278 while reiterating an \u201coutperform\u201d rating on the shares. The new price forecast implies upside of 16.4% from the April 14 close.<\/strong><\/p>\nBender noted the first quarter was a positive stretch for land-based gaming in North America. He sees sports betting in the region growing at a compound annual rate of 20% over the next five years, with iGaming posting a compound annual growth rate of 19% over the same period. Those are potential positives for shares of Churchill Downs.<\/p>\n
That stock is up 20.35% year to date and resides just 3.66% off its 52-week high.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Penn Entertainment (NASDAQ: PENN) traded lower Monday after an analyst downgraded the stock, noting it\u2019s fairly valued at current levels. In a note to clients on Monday, JMP Securities analyst Jordan Bender downgraded shares of the regional casino operator to \u201cmarket perform\u201d from \u201cmarket outperform,\u201d pointing out the stock is \u201cfairly valued\u201d following […]<\/p>\n","protected":false},"author":46,"featured_media":243056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1074],"tags":[],"acf":[],"yoast_head":"\n
Penn Entertainment Hit Valuation-Inspired Downgrade<\/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