Penn Entertainment price target raised to $27 from $26 at Macquarie

Macquarie raised the firm’s price target on Penn Entertainment (PENN) to $27 from $26 and keeps an Outperform rating on the shares post the Q3 report. For the second quarter in a row, ESPN BET was the biggest outperformer, delivering Interactive EBITDA results that were $10M better than consensus, the analyst tells investors in a research note. The firm thinks there remains “significant unlocked value” in Penn’s Interactive business of $7 per share.