Barstool Sports could drive ‘rapid share gains’ for Penn National Gaming and help drive the stock 20% higher, according to Goldman Sachs (PENN)
- David Portnoy’s Barstool Sports could drive “rapid share gains” for Penn National Gaming and help drive shares 20% higher from Wednesday’s close, according to Goldman Sachs.
- The research firm initiated Penn National at a buy with a 12-month price target of $60 on Thursday, arguing that Barstool’s massive social media following can help lower customer acquisition costs for Penn National.
- In January, Penn National bought a 36% equity stake in Barstool Sports for $163 millio…
