Market Overview

UPDATE: Sterne Agee Reiterates Neutral Rating, Lowers PT on Boyd Gaming

Related BYD
UPDATE: Deutsche Bank Reiterates On Boyd Gaming On Expected Near-Term Pressure
Gambling Stock Roundup: Penn National, Pinnacle Entertainment, Monarch Casino Post Sluggish Results

In a report published Wednesday, Sterne Agee Group reiterated its Neutral rating on Boyd Gaming Corporation (NYSE: BYD), but slightly lowered its price target from $6.70 to $6.20.

Sterne Agee noted, “Each division missed our estimates with LV Locals leading the charge (BYD's largest flow-through & LT upside opportunity, according to bulls). Its AC portfolio remains concerning while Midwest & South is solid, yet uninspiring. However, we believe upcoming market diversity; EPS and FCF accretion via its Peninsula acquisition keeps shares range-bound from here.”

Boyd Gaming Corporation closed on Tuesday at $5.48.

Posted-In: Sterne Agee GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (BYD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters