All the market-moving Wall Street chatter from Tuesday

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All the market-moving Wall Street chatter from Tuesday

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. Content sales and licensing also hit a cyclical bottom in 2023, but profitability should return in the segment this year. Ng also cited ESPN’s direct-to-consumer initiatives and strong industry fundamentals within the cruises and theme parks verticals as additional strengths for the company. These investments — which include the launch of three new cruise ships and the Disneyland Forward expansion — could contribute around $10 billion in annual profits after completion, he added. — Lisa Kailai Han 5:41 a.m.: Raymond James downgrades Penn Entertainment It’s time to cash in on Penn Entertainment shares, according to Raymond James. Analyst RJ Milligan downgraded the casino and sports ******** company to market perform from outperform. He also removed his $20 price target, which implied just 3% upside from Monday’s close. Milligan noted that recent activist pressure and M & A rumors have recently pushed shares higher, limiting further upside ahead. Indeed, the stock is up nearly 21% over the past month. “Given the path to profitability in digital still ******** uncertain, and we don’t expect any dramatic shift in strategy (e.g., an outright ***** of the company) in the near-term, we are recommending investors take profits and look for better risk-adjusted opportunities in the sector,” the analyst added. “We also question whether PENN would even be a willing seller in the near-term — the company has made a massive bet on its partnership with ESPN and would likely want to see how successful (or unsuccessful) they will be through the NFL season,” he said. Despite the recent gains, Penn shares are down more than 25% year to date. NVDA YTD mountain NVDA year to date — Fred Imbert

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Investment strategy,Stock markets,PENN Entertainment Inc,Walt Disney Co,business news
#marketmoving #Wall #Street #chatter #Tuesday

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