In a report released today, Stephen Grambling from Morgan Stanley maintained a Hold rating on Boyd Gaming, with a price target of $80.00.
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Stephen Grambling has given his Hold rating due to a combination of factors including Boyd Gaming’s recent financial performance and strategic decisions. The company reported a slight beat in its second-quarter earnings for 2025, with consolidated revenues and EBITDAR surpassing expectations, particularly in the Locals market segment. Despite these positive results, the sale of Boyd’s stake in FanDuel did not meet expectations after accounting for taxes, which influences the overall valuation.
Additionally, while the core trends and policy changes suggest potential sustained momentum, the current price target remains at $80, reflecting a cautious approach. The decision to maintain a Hold rating suggests that while there are positive indicators, the stock’s current valuation does not offer significant upside potential in the near term. The expectation of returning excess capital to shareholders is a positive aspect, yet it does not warrant a change in the rating at this time.
In another report released today, Barclays also maintained a Hold rating on the stock with a $87.00 price target.