Penn Entertainment price target lowered to $22 from $26 at Barclays

Barclays analyst Brandt Montour lowered the firm’s price target on Penn Entertainment to $22 from $26 and keeps an Overweight rating on the shares. The digital guidance reset was “painful, but needed,” in light of recent market share trends, the analyst tells investors in a research note. The firm says that while its near term conviction is low, as catalysts are sparse and visibility appears limited, the stage is being set for improvement later this year.