Jefferies analyst David Katz upgraded Boyd Gaming (BYD) to Buy from Hold with a price target of $92, up from $73. The company’s capital investment pipeline in its regional portfolio and easing comps in Las Vegas, driven by a highly competitive promotional environment in fiscal 2024, should provide Boyd with a catalyst this year, the analyst tells investors in a research note. Additionally, the company is committed to repurchasing shares, contributing to Jefferies’ expected year-over-year earnings growth of 9%, says the analyst. The firm believes the value of Boyd’s digital presence through FanDuel, which its values at $7 per share, is underappreciated.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
