Penn National Gaming Flips a Wall Street Brokerage From Bearish to Bullish

With the online sportsbook scene attracting plenty of action and investor interest this year, Penn National Gaming (NASDAQ: PENN) has converted a previous "bear" to a more bullish stance in light of its recent Barstool Sports partnership. Wall Street brokerage firm Rosenblatt Securities, Inc. gave the casino and racetrack operator a $90 price target today, amounting to a roughly 25% upside from Penn's current trading at around $72, as reported by Seeking Alpha. In its research note, Rosenblatt Securities directly stated its appraisal of the Barstool deal "suggests a lower probability of our bear case playing out and now greater focus on the bull case."