Boyd Gaming upgraded to Buy from Hold at Jefferies
Jefferies analyst David Katz upgraded Boyd Gaming (BYD) to Buy from Hold with a price target of $92, up from $73. The company’s capital investment pipeline in its regional portfolio and easing comps in Las Vegas, driven by a highly competitive promotional environment in fiscal 2024, should provide Boyd with a catalyst this year, the analyst tells investors in a research note. Additionally, the company is committed to repurchasing shares, contributing to Jefferies’ expected year-over-year earnings growth of 9%, says the analyst. The firm believes the value of Boyd’s digital presence through FanDuel, which its values at $7 per share, is underappreciated.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BYD:
- Bet On It: DraftKings settles with former executive who now works at Fanatics
- Bet On It: South Carolina advances legalized sports betting efforts
- Boyd Gaming price target raised to $79 from $72 at Deutsche Bank
- Boyd Gaming upgraded to Buy from Hold at Argus
- Bet On It: Gambling.com to acquire Odds Holdings for $80M upfront
