In a report released yesterday, Steve Hansen from Raymond James maintained a Buy rating on Boyd Group Services, with a price target of C$290.00.
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Steve Hansen has given his Buy rating due to a combination of factors including Boyd Group Services’ impressive third-quarter performance and strategic growth initiatives. The company reported a significant increase in adjusted EBITDA, surpassing both market and internal expectations, which highlights its strong operational efficiency and effective cost management strategies.
Furthermore, Boyd’s revenue growth was bolstered by positive same-store sales growth and the expansion of new locations, indicating a robust growth trajectory. The company’s strategic acquisition of Joe Hudson and its ongoing Project 360 cost-saving initiatives further enhance its long-term value proposition. These factors, combined with a favorable industry outlook and Boyd’s attractive valuation, underpin Hansen’s positive assessment of the stock.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a C$275.00 price target.