Morgan Stanley Feels Confident in Boyd Gaming Corporation Ahead of 1Q14 Report

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In a report published Monday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating and $13.00 price target on
Boyd Gaming CorporationBYD
. In the report, Morgan Stanley noted, “BYD reports 1Q14 results Wed AMC. Following PENN's results, we would be cautious on BYD stock into earnings. Recent history of PENN vs. BYD results and stock reactions suggests little reason to take the risk. Given our Overweight BYD call is predicated on longer-term drivers (Online Gaming, LV Locals recovery, OpCo/PropCo split), which we don't expect to get positive updates on, we would stay on the sidelines near-term.” Boyd Gaming Corporation closed on Friday at $11.69.
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Posted In: Analyst ColorReiterationAnalyst RatingsMorgan StanleyThomas Allen
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