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Investing.com - Jefferies has reiterated its Buy rating on Boyd Gaming (NYSE:BYD) with a price target of $107.00, according to a research note released Friday. The stock, currently trading at $84.98, sits near its 52-week high of $88.49, reflecting strong momentum. According to InvestingPro data, the company maintains impressive gross profit margins of 61% and trades at an attractive P/E ratio of 13.1.
The investment firm maintained its positive outlook following what it described as a "solid quarter" from the casino operator, with consistent messaging around growth and capital allocation remaining evident in the company’s quarterly earnings call. Management’s commitment to shareholder returns is demonstrated through aggressive share buybacks and three consecutive years of dividend increases.
Jefferies highlighted Boyd Gaming’s financial capabilities, noting the company is well-positioned to become more prominent in the near term as regional asset transactions become more active in the gaming sector.
The research note specifically pointed out that Boyd Gaming "is best positioned to play offense among a sector where defense is more the focus," suggesting the company has greater flexibility for strategic moves compared to competitors.
The $107.00 price target reflects Jefferies’ continued confidence in Boyd Gaming’s business fundamentals and growth strategy in the regional casino market.
In other recent news, Boyd Gaming Corporation reported impressive financial results for the third quarter of 2025. The company exceeded analysts’ expectations with an earnings per share (EPS) of $1.72, surpassing the forecasted $1.60. Revenue also outperformed projections, reaching $1 billion compared to the anticipated $872.1 million. These results indicate a strong performance for Boyd Gaming, despite some challenges noted in its Las Vegas operations. Mizuho, a financial firm, responded by raising its price target for Boyd Gaming’s stock to $99 from $89, maintaining an Outperform rating. The firm cited a solid performance in Boyd’s locals business, even though there were "net-negative" updates regarding its destination business. This development reflects ongoing investor confidence in Boyd Gaming’s overall business strategy and market position.
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