Morgan Stanley reiterates Equalweight rating on PENN Entertainment stock\n\nInvesting.com - Morgan Stanley has reiterated an Equalweight rating and $17.00 price target on PENN Entertainment Inc (NASDAQ:PENN) following an investor and analyst event in the Chicago area. The stock, currently trading at $17.74, sits near the lower end of analyst targets ranging from $17 to $30, according to InvestingPro data.\n\nThe investment bank attended PENN’s event which showcased the company’s recently opened new land-based casino in Joliet, Illinois, along with a tour of an upcoming project in Aurora.\n\nMorgan Stanley expressed increased confidence that PENN is investing to reposition its properties to remain competitive in what it described as a dynamic environment.\n\nDespite the positive repositioning efforts, the investment firm noted that incremental returns from these investments remain uncertain at this time.\n\nThe bank also highlighted ongoing competitive pressures in the gaming industry, suggesting that any upside for PENN could prove fleeting, while additional capital projects might emerge in the future.\n\nIn other recent news, Penn Entertainment Inc. reported strong financial results for the second quarter of 2025, with earnings per share reaching $0.10, far surpassing the expected loss of $0.02. The company also reported revenue of $1.77 billion, exceeding the anticipated $1.73 billion. Despite this strong performance, the company’s adjusted EBITDAR of $392.1 million slightly missed the consensus estimate of $392.8 million. Following these results, JMP Securities raised its price target for Penn Entertainment to $25, maintaining a Market Outperform rating. Conversely, Needham lowered its price target to $22 due to weaker-than-expected interactive handle trends, though it kept a Buy rating on the stock. Stifel and Benchmark both maintained their Hold ratings on the company, with Stifel setting a price target of $19. Additionally, Penn Entertainment’s new Hollywood Joliet casino opened recently, with plans for another location in Aurora by the first half of 2026. These developments highlight Penn Entertainment’s ongoing strategic initiatives and financial performance.

Morgan Stanley reiterates Equalweight rating on PENN Entertainment stock

Morgan Stanley has reiterated an Equalweight rating and a $17.00 price target on PENN Entertainment Inc (NASDAQ:PENN) after attending an investor event in the Chicago area, where it toured the company's newly opened Joliet casino and an upcoming Aurora project. The stock is currently trading at $17.74, near the lower end of analyst estimates ranging from $17 to $30. Despite positive repositioning efforts, Morgan Stanley notes uncertainty around incremental returns and ongoing competitive pressures in the gaming industry. In Q2 2025, PENN reported strong financial results, including earnings per share of $0.10 (exceeding the expected loss of $0.02) and revenue of $1.77 billion (above the forecast of $1.73 billion), though adjusted EBITDAR of $392.1 million slightly missed the consensus estimate of $392.8 million. JMP Securities raised its price target to $25 and maintained a Market Outperform rating, while Needham lowered its target to $22 due to weak interactive handle trends but kept a Buy rating. Stifel and Benchmark maintained Hold ratings with price targets of $19. PENN also opened its new Hollywood Joliet casino and plans to open a second location in Aurora by the first half of 2026.