Stifel Boosts Boyd Gaming Price Target, Highlights Resilience Amid Macro Pressures
Stifel raised its price target on Boyd Gaming (NYSE:BYD) from $71 to $76 while maintaining a Buy rating, reflecting growing confidence in the company’s ability to weather macroeconomic uncertainty and competitive pressures.
Following meetings with Boyd’s leadership during its annual Cross Sector Insights Conference, Stifel emphasized the consistent performance across the company’s properties. While spending from lower-tier retail customers has remained flat at subdued levels, activity among core players continues to grow. In Boyd’s Local Video Lottery (LVL) segment, the firm acknowledged some broader market softness and heightened competition but noted that year-over-year comparisons appear to be stabilizing.
Stifel also pointed to Boyd’s low-leverage balance sheet as a strength, particularly in the current environment. The increased price target now accounts for a larger expected contribution from the company’s equity stake in FanDuel, reinforcing Boyd’s positioning as a solid long-term play in the regional gaming space.
| Symbol | Price | %chg |
|---|---|---|
| 035250.KS | 18300 | 0.11 |
| 034230.KS | 15270 | 1.77 |
| 114090.KS | 15130 | 1.59 |
| 025980.KQ | 10380 | -0.19 |
Susquehanna Analysts Upgrade Boyd Gaming to a Buy
Susquehanna analysts moved Boyd Gaming Corporation (NYSE:BYD) rating from Neutral to Positive and set a new price target at $77 on the stock. This adjustment comes after revised forecasts revealed that the company is now trading at an appealing discount amid softer regional expectations.
The revised estimates stem from a combination of factors, including a downturn in first-quarter performance due to unfavorable weather conditions early in the year and less robust projections for the second quarter. In addition, the valuation model was recalibrated by applying a lower multiple on local Las Vegas operations—reducing the EBITDAR multiple from 9.0x to 8.0x—which further supported the more optimistic outlook for the stock.
Together, these adjustments suggest that Boyd Gaming’s shares have become an attractive long-term investment opportunity, warranting the upgrade to a Positive rating despite broader concerns about economic slowdown.
Susquehanna Analysts Upgrade Boyd Gaming to a Buy
Susquehanna analysts moved Boyd Gaming Corporation (NYSE:BYD) rating from Neutral to Positive and set a new price target at $77 on the stock. This adjustment comes after revised forecasts revealed that the company is now trading at an appealing discount amid softer regional expectations.
The revised estimates stem from a combination of factors, including a downturn in first-quarter performance due to unfavorable weather conditions early in the year and less robust projections for the second quarter. In addition, the valuation model was recalibrated by applying a lower multiple on local Las Vegas operations—reducing the EBITDAR multiple from 9.0x to 8.0x—which further supported the more optimistic outlook for the stock.
Together, these adjustments suggest that Boyd Gaming’s shares have become an attractive long-term investment opportunity, warranting the upgrade to a Positive rating despite broader concerns about economic slowdown.
