Jefferies Maintains Hold Rating and $6 PT on Boyd Gaming

A report from Jefferies reiterates its Hold rating and $6 price target on Boyd Gaming (NYSE: BYD).

The report states, “Improving efficiency at the property level largely drove the quarter's in-line performance. Top-line pressure in all regions is being offset by profitability expansion. While the operating execution and cash generation are consistent with the peer group, the higher leverage and higher valuation support our Hold rating on the shares”.

BYD closed yesterday at $6.56.