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…

Penn National preparing for horse racing return

HARRISBURG, Pa. (WHTM) — The sports comeback continues to spread across Pennsylvania, and horse racing is one of the latest beneficiaries.

The Pennsylvania Horsemen’s Benevolent and Protective Association (HBPA) released a statement Saturday saying it expects approval to begin racing at Penn National on Friday, June 19.