BUY PENN around the $70-75 range for a move up to $105!
Penn National Gaming, Inc. is an American operator of casinos and racetracks, based in Wyomissing, Pennsylvania.
It operates 44 facilities in the United States and Canada, many of them under the Hollywood Casino brand. The company also controls a 36% stake in Barstool Sports.
With the US consumers sitting on over $5.4 trillion of additional savings as a result of the COVID-19 pandemic we believe that Penn National Gaming will benefit from the large consumer spending spree that we expect to sweep the US in the second half of 2021. In addition to that, people who like to bet on various sporting or racing events were severely limited in terms of betting options throughout the last 12-16 months. With things slowly but surely going back to normal despite the new highly contagious Delta variant, we believe that Penn National Gaming is uniquely positioned and will likely see strong revenue and earnings numbers in Q3 and Q4. Last but not least, let's not forget that Barstool Sports is basically a digital content producing company focused exclusively on sports. Thus, with the return of the NFL pre-season starting in August and the actual season in September, Barstool will be a strong driving force for Penn National Gaming's stock moving forward. Lastly, we should also point out that Barstool Sports launched the Barstool Sportsbook back in September, 2020 which is basically a betting app, and handled over $11 million in wagers during its first week of operations!
It definitely seems that the stars are aligning almost perfectly for PENN and as a result of that we believe that the stock will be trading above the $100 mark by mid-September latest.
From a technical standpoint the chart also shows the presence of a strong bullish interest around the $70 level. All major daily indicators including the Stochastics, RSI, MACD and Bollinger Bands are also pointing to a strong reversal in play.
Our targets for the 8-10 weeks will be $105 and $120 respectively.
Good luck guys and remember to always do your own research as well!
It operates 44 facilities in the United States and Canada, many of them under the Hollywood Casino brand. The company also controls a 36% stake in Barstool Sports.
With the US consumers sitting on over $5.4 trillion of additional savings as a result of the COVID-19 pandemic we believe that Penn National Gaming will benefit from the large consumer spending spree that we expect to sweep the US in the second half of 2021. In addition to that, people who like to bet on various sporting or racing events were severely limited in terms of betting options throughout the last 12-16 months. With things slowly but surely going back to normal despite the new highly contagious Delta variant, we believe that Penn National Gaming is uniquely positioned and will likely see strong revenue and earnings numbers in Q3 and Q4. Last but not least, let's not forget that Barstool Sports is basically a digital content producing company focused exclusively on sports. Thus, with the return of the NFL pre-season starting in August and the actual season in September, Barstool will be a strong driving force for Penn National Gaming's stock moving forward. Lastly, we should also point out that Barstool Sports launched the Barstool Sportsbook back in September, 2020 which is basically a betting app, and handled over $11 million in wagers during its first week of operations!
It definitely seems that the stars are aligning almost perfectly for PENN and as a result of that we believe that the stock will be trading above the $100 mark by mid-September latest.
From a technical standpoint the chart also shows the presence of a strong bullish interest around the $70 level. All major daily indicators including the Stochastics, RSI, MACD and Bollinger Bands are also pointing to a strong reversal in play.
Our targets for the 8-10 weeks will be $105 and $120 respectively.
Good luck guys and remember to always do your own research as well!
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