BUZZ-PENN rises after J.P. Morgan upgrades to 'overweight', raises PT

Reuters12-13

** Casino operator PENN Entertainment's shares rise 5.35% to $21 in premarket trade

** J.P. Morgan raises stock rating to "overweight" from "neutral"

** "We see a favorable risk-reward for PENN, with its regional land-based-casino stabilizing, and $850 mln investments in retail growth projects expected to yield significant returns beginning in 2H25 and beyond" - J.P. Morgan

** Brokerage also raises PT to $27 from $19, a 35% upside to stock's last close

** Ten of 21 brokerages rate the stock "buy" and 11 "hold"; their median PT is $22 - LSEG data

** As of last close, stock down 23% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))

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