Benzinga | Oct 19, 2021 11:40AM EDT

Why Penn National Gaming Shares Are Rising

Penn National Gaming, Inc. (NASDAQ:PENN) shares are trading higher after Berenberg initiated coverage on the stock with a Buy rating and announced a $95 price target.

Over the past 5 trading sessions, the stock has increased approximately 8% from the $74 level to the $80 level.

Penn National Gaming, Inc., together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through four segments: Northeast, South, West, and Midwest.

Penn National Gaming's stock was trading about 3.9% higher at $80.32 per share on Tuesday at the time of publication. The stock has a 52-week high of $142 and a 52-week low of $52.09.