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Upgrade Alert for Penn National Gaming (PENN)

By Amy Schwartz

Penn National Gaming (NASDAQ:PENN) was upgraded from Underweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $15.75 on volume of 1.2 million shares, above average daily volume of 798,000.

In the past 52 weeks, Penn National Gaming share prices have been bracketed by a low of $12.51 and a high of $20.23 and closed yesterday at $15.75, 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

Penn National Gaming, Inc. owns and operates Charles Town Races in West Virginia which features slot machines, casinos in Mississippi, and a riverboat gaming facility in Louisiana. The Company also owns racetracks and off-track wagering facilities in Pennsylvania, as well as manages a gaming facility in the Province of Ontario, Canada.

Potential upside of 33.1% exists for Penn National Gaming, based on a current level of $15.75 and analysts' average consensus price target of $20.96. Penn National Gaming shares should first meet resistance at the 50-day moving average (MA) of $15.78 and find additional resistance at the 200-day MA of $16.39.

SmarTrend is tracking the current trend status for Penn National Gaming and will alert subscribers who have PENN in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades penn national gaming

Ticker(s): PENN