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The “Portnoy Momentum Trade” can push Penn National higher, says analyst

Stifel analysts led by Steven Wieczynski raised their price target on shares of Penn National, on the belief that the “Portnoy Momentum Trade” will continue. The firm also expects the sports betting euphoria to continue through the fall, thanks in part to “a number of states to pass gaming legislation that should keep the sports betting/iGaming momentum rolling.”

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