Pinnacle Entertainment price target raised to $22 from $16 at Brean Capital Brean Capital raised its price target on Pinnacle Entertainment (PNK) following its announcement to acquire Ameristar Casino (ASCA). The firm believes the deal is immediately accretive and will add to cash flow. Brean Capital also expects revenue growth to be driven by targeted marketing and its strong pipeline and financial footing. Shares are Buy rated.
Gaming and Leisure could pay $42/share for Pinnacle, says JPMorgan JPMorgan believes Gaming and Leisure Properties (GLPI) could raise its offer for Pinnacle Entertainment (PNK) to $42 per share from the current $35.77 consideration. It thinks the offer at $42 would make financial sense for both companies. JPMorgan raised its price target for Gaming and Leisure to $40 from $36 and for Pinnacle to $42 from $36. It keeps Overweight ratings on both names.