BMO Capital analyst Tristan M. Thomas-Martin has maintained their bullish stance on BGSI stock, giving a Buy rating on May 5.
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Tristan M. Thomas-Martin has given his Buy rating due to a combination of factors, even as he trimmed his price target from $250 to $200 following softer same-store sales trends. He views the recent weakness as largely weather-related and notes that underlying industry conditions are improving, with April performance moving back toward Boyd’s longer-term same-store sales growth range.
He also highlights meaningful synergy potential and operational upside from the Joe Hudson acquisition and Project 360 initiatives, which are already delivering cost and efficiency benefits. Combined with expectations for margin expansion, continued share gains in a fragmented market, and favorable long-term cost-to-repair and scanning and calibration dynamics, he believes the current share price underestimates Boyd’s earnings and growth outlook.
In another report released on May 5, Stifel Nicolaus also maintained a Buy rating on the stock with a C$255.00 price target.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BGSI in relation to earlier this year.