Penn Entertainment (PENN) saw its stock soar by 5% on Friday, following positive analyst ratings from Truist Financial and Needham. The surge in PENN's share price can be attributed to the bullish sentiment expressed by these analysts, which suggests the stock has further upside potential.
In a report released on Friday, Barry Jonas from Truist Financial maintained a Buy rating on Penn Entertainment. This positive rating from a reputable research firm likely added fuel to the stock's rally, as investors reacted favorably to the analyst's recommendation.
Similarly, analysts at Needham also maintained their Buy rating on PENN shares. The endorsement from multiple analysts reinforced the notion that Penn Entertainment is currently undervalued and presents an attractive investment opportunity.
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