Citizens raises Penn price target to $26 and flags potential Churchill sale

Citizens Equity Research analyst Jordan Bender raised his price target for Penn Entertainment to $26 from $24 and reiterated a market outperform rating ahead of its scheduled 6 August earnings report. Bender also cited a potential sale of Churchill Downs’ regional gaming business as a possible catalyst, although the company has not said a sale is in progress. Citizens also named Red Rock Resorts among its preferred regional casino stocks.