PENN Entertainment Inc
PENN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$46.00 | Gfdl | Glsnhtr |
Penn Entertainment Earnings: Digital Business Shows Improved Sales and EBITDA; Shares Undervalued
No-moat Penn’s shares increased around 6% during Aug. 8 trading, as the company’s interactive division posted solid second-quarter revenue and improving EBITDA losses. With digital performance tracking in line with our preprint model, we don’t expect a meaningful change to our $22 fair value estimate. Despite the move higher, shares remain undervalued, although we expect performance to remain volatile amid a still intense competitive online gaming environment.