Goldman Sachs Raises Penn National’s Stock Target by Almost $40 a Share

Fresh off mobile launches in Michigan and Virginia, gambling analysts on Tuesday gave another vote of confidence to publicly traded sports betting companies.

Goldman Sachs upgraded DraftKings to a buy with a $65 price target and reiterated Penn as a buy with a growing price target from $86 to $124 a share.

As of 12:30pm ET, DraftKings was up seven percent on the day to $54.90, while Penn was down 1.8 percent to $102.12.

The DraftKings upgrade was based on what the analysts said was a market leader position and “ability to participate in the economics of single operator states.” DraftKings, for example, runs sports betting in New Hampshire through its contract with the state lottery…

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About Editor

Rich Nilsen is a 17-time qualifier to the National Horseplayers Championship (NHC), an event he has cashed in four times. He was the first player to finish in the top 10 twice. He cashed on the 2018 NHC Tour with a 19th overall finish. Rich was also a winner of a $24,000 package into Kentucky Derby Betting Championship I. A former executive with Brisnet.com, Rich is a graduate of the University of Louisville Equine Business Program and is founder of AGameofSkill.com, a site devoted to horse racing education and promotion.

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