Deutsche Bank recently released a note on Boyd Gaming Corporation BYD after the company released strong 4Q15 earnings that beat analyst estimates. Boyd announced EBITDA of 154.2 million while net revenue was up 4.6 percent year-over-year to $158.8 million, beating estimates of $141.8 and $154.8 respectfully.
Deutsche Bank rates Boyd Gaming as a Buy with a $24 price target. Analysts Carlo Santarelli and Danny Valoy wrote, "Following a strong 4Q15 beat, favorable management commentary on 1Q16 to date trends, continued debt reduction, and what we expect will be upward Consensus revisions, we continue to view BYD as one of the best risk-reward propositions in our Gaming coverage universe."
Analysts gave five reasons why they believe investors should buy Boyd Gaming:
- 1. Recovery of the Las Vegas Gaming Market
- 2. Strong Same-Store Sales Performance of 6.5 percent over the past two years
- 3. Accelerated growth of Boyd Gaming's online business
- 4. Significant Free Cash Flow generation of an estimated $2.70 per share over the 2016/2017 period.
- 5. Potential upside due to depressed share prices from prior year peak share prices.
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