Truist analyst Barry Jonas lowered the firm’s price target on Boyd Gaming (BYD) to $85 from $92 but keeps a Buy rating on the shares. The firm notes that February Las Vegas Strip GGR – gross gaming revenue – fell 14% Y/Y facing a tough comp as Las Vegas had hosted the Super Bowl last year, with softer GGR also likely driven by declines in Bacc and Table games and one less calendar day y/y, the analyst tells investors in a research note. Truist adds however that it expects to see improvements in Vegas trends in March.
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