Citizens stock rating reiterated at Market Outperform by JMP

Investing.com - JMP Securities has reiterated its Market Outperform rating on PENN Entertainment Inc (NASDAQ:PENN), maintaining its $24.00 price target. Currently trading at $18.85, PENN’s stock price sits within analysts’ target range of $17-$30, with InvestingPro data showing the stock’s Fair Value closely aligned with current market prices.

The research firm’s analysis is based on a valuation of 5.7 times its estimated 2026 EBITDA for the company.

JMP also calculated its price target using 9.5 times its projected 2026 free cash flow for the casino and entertainment operator.

Analyst Jordan Bender provided the rating confirmation in a recent research note to investors.

PENN Entertainment operates casinos, racetracks, and online gaming platforms across the United States. The company has achieved 5.51% revenue growth over the last twelve months, generating total revenue of $6.64 billion, though operating with significant debt levels relative to its equity.

In other recent news, PENN Entertainment announced plans to close its Hollywood Casino (EPA:CASP) Joliet riverboat property on July 29 to pave the way for a new $185 million land-based facility set to open in August 2025, pending regulatory approvals. The new casino will be located at Rock Run Collection and is expected to feature approximately 1,000 slot machines, 43 live table games, and an ESPN BET sportsbook. In financial developments, PENN Entertainment has completed a $233.5 million note repurchase, reducing its outstanding Convertible Senior Notes due in 2026 to approximately $106.7 million. Ahead of its second-quarter earnings report, Stifel raised its price target for PENN Entertainment stock from $17 to $19 while maintaining a Hold rating. Additionally, JPMorgan initiated coverage with an overweight rating and a $24 price target, citing the company’s promising project pipeline. In corporate governance, HG Vora Capital Management’s nominees Johnny Hartnett and Carlos Ruisanchez were elected to PENN’s board of directors. This election took place at the 2025 annual meeting, with more than 55% of votes cast in favor of HG Vora’s nominees. These developments highlight PENN Entertainment’s strategic moves and financial adjustments in the current landscape.

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