Mizuho Securities analyst Benjamin Chaiken has maintained their bullish stance on BYD stock, giving a Buy rating on January 22.
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Benjamin Chaiken has given his Buy rating due to a combination of factors related to Boyd Gaming’s financial performance and market positioning. He observes an upward trend in the Midwest and South regions, where recent results have positively surpassed previous expectations. Additionally, Chaiken notes that while Las Vegas Locals’ consensus estimates appear optimistic, his more conservative projections provide a reasonable base case that supports the overall valuation.
Chaiken’s analysis also highlights the company’s strategic investments, such as the Treasure Chest property expansion, which is expected to enhance profitability through improved gaming environments. Furthermore, the company’s valuation remains attractive, with the price target based on a consistent EBITDA multiple and projected free cash flow. These elements collectively affirm the Buy rating, suggesting potential for continued growth and value realization.
In another report released on January 22, Wells Fargo also maintained a Buy rating on the stock with a $82.00 price target.