Pinnacle Entertainment downgraded to Hold from Buy at Deutsche Bank Deutsche Bank downgraded Pinnacle Entertainment citing valuation and its belief 2014 and 2015 consensus estimates are too high. The firm keeps a $28 price target for shares.
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.