Stockchase Opinions

The Panic-Proof Portfolio (Stockchase Research) Penn National Gaming Inc PENN-Q PAST TOP PICK Nov 16, 2021

(A Top Pick Oct 28/21, Down 24%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with PENN has triggered its stop at $55. To remain disciplined, we recommend covering the position at this time. We will continue to look for better opportunities.
$54.750

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BUY
Gambling stocks plunged today Gambling stocks like this are due for a bounce as the world reopens and there's more sports betting to come.
BUY
Likes it and it's performing well. It's gambling season right now.
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Curated by Michael O'Reilly since 2020.
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TOP PICK
Stockchase Research Editor: Michael O'Reilly We reiterate PENN, a company that operates casinos, resorts, off-track betting and gaming apps, as a TOP PICK. Quarter over quarter earnings are expected to be up 58% with annual EPS expected to be up over 160%, when results get reported early next month. As more states turn to legalizing sports betting to help build revenues themselves, this bodes well for the company that has 44 facilities in the US and Canada. The company was added to the S&P500 Index recently, meaning there will be an underlying need to own it by index builders. We like how cash reserves are growing while debt is being reduced. We continue to recommend a stop loss at $55, looking to achieve $110 -- upside potential over 50%. Yield 0%. (Analysts’ price target is $113.40)
HOLD
It's down over 40%, crushed. We're in the height of gambling season. This may go down later. To sell it now is a mistake.
DON'T BUY
Among the biggest losers on the S&P in 2021 #1, down 40%. Gaming was once the hot business for investors. PENN merged with Barstool was supposed to blend a hot entertainment property with this gambling business. Problem is, other companies had the same idea to cash in on a growing market. Once more states permit gambling and there are more mergers, he expects a lot of money to be made. PENN is well-run, too. But Covid needs to vanish and consolidation needs to happen.
DON'T BUY
A cheap stock, but there are too many players in betting. Can't recommend any of them now.
BUY

Gambling is hot again. They bought Barstool and he likes that deal.