Goldman Sachs Rates PENN Entertainment (PENN) buy

Goldman Sachs keeps its buy rating on PENN Entertainment, pointing to a $26 price target as shares hover near $21.36, a 21.72% upside from the current price.

By EarningsIQ Research Desk · Published Jun 26, 2026, 2:01 PM EDT · Updated Jul 1, 2026, 7:02 AM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

Goldman Sachs rated PENN Entertainment, Inc. ($PENN) "buy" with a $26 price target on June 26, 2026.

Since the rating, $PENN is down 3.3% after 1 week, down 3.2% after 1 month and down 31.7% to date (from the $21.88 close on Jun 26, 2026).

PENN PENN Entertainment, Inc.

$14.94 +0.61% year to date

Daily close · Oct 16, 2026

Key Points

Goldman Sachs reiterated its buy rating on PENN Entertainment, Inc. (NasdaqGS: PENN) on June 26, 2026, setting a $26 price target.
Goldman Sachs's $26 price target implies 21.72% upside from PENN Entertainment, Inc.'s ($PENN) current $21.36 share price.
The stock traded at $21.36, sitting close to its 52-week high of $22.36 and well above its 52-week low of $11.65.
Wall Street tracks the casino and digital gaming operator closely, with 19 analyst opinions forming a consensus buy recommendation and a mean target of $24.39.

Get $PENN trade alerts by text

We text you when insiders, Congress or big funds trade $PENN. Free.

Not investment advice. EarningsIQ is not a registered investment adviser, and this automated PENN Entertainment, Inc. alert may contain errors. Disclosures

Goldman Sachs Maintains Its Stance on PENN Stock

Goldman Sachs reaffirmed its positive outlook on PENN Entertainment, Inc. (NasdaqGS: PENN), keeping a buy rating and a $26 price target on June 26, 2026. Analyst Lizzie Dove pointed to a path forward that leaves room for gains from the spot price of $21.36. That target sits above the current trading level, giving investors a clear look at where one major Wall Street firm expects the gaming and digital media operator to head.

Analyst rating track record

Goldman Sachs vs. the S&P 500

YTD return +14.83% hypothetical

All-time return +48.85% S&P 500 +28.69%

vs. S&P 500 +20.16% ahead of the index

Hypothetical returns from Goldman Sachs's disclosed trades, not real profit or advice. How we model this.

12-month forecast

$PENN price target

PENN Entertainment, Inc. daily closes and this analyst's $26 target. Not advice.

Where the Stock Trades Right Now

PENN shares recently changed hands at $21.36, putting the equity near the top of its 52-week range of $11.65 to $22.36. The equity has gained momentum over the past year, trading far above its 200-day moving average of $16.69 and its 50-day moving average of $18.90. With a market value of roughly $2.16 billion and a forward P/E ratio of 13.50, the valuation reflects shifting expectations for the company's mix of regional casinos and digital sports betting apps.

Other Wall Street Firms Update Their Targets

Financial firms continue to evaluate the casino operator as market conditions evolve. On October 12, 2026, Citigroup maintained a neutral rating while lowering its price target to $17.00 from $22.00. A few days earlier on October 9, 2026, Barclays kept an overweight rating and raised its target to $27.00 from $26.00. Deutsche Bank upgraded the stock to a buy on October 6, 2026, setting a $25.00 price target. Morgan Stanley maintained an equal-weight rating with a $20.00 target on August 12, 2026. Benchmark kept a buy rating and a $22.00 target on August 7, 2026, while Macquarie maintained an outperform rating with a $25.00 target on the same day. Earlier in the summer, B of A Securities maintained a neutral rating with a $22.00 target on July 20, 2026, and Citizens maintained a market outperform rating with a $26.00 target on July 16, 2026. Altogether, the stock holds a consensus buy recommendation backed by 19 analyst opinions and a mean price target of $24.39.

Inside PENN Entertainment Operations

PENN Entertainment operates a broad network of physical casinos, racetracks, and digital entertainment platforms across the United States. The company runs regional gaming properties under familiar names like Hollywood Casino, Ameristar, and L'Auberge, alongside online sports betting tools such as theScore Bet and ESPN Bet partnerships. This hybrid model combines traditional brick-and-mortar cash flow with digital sports content to capture younger audiences.

What to Watch Next for the Company

Investors will look toward the company's next earnings report scheduled for November 5, 2026, for updates on its digital division and regional gaming margins. Analyst revisions and target updates will continue to shape market sentiment as the stock tests resistance near its 52-week high.