Street Calls of the Week
Investing.com - Mizuho raised its price target on Boyd Gaming (NYSE:BYD) to $99.00 from $89.00 on Friday, while maintaining an Outperform rating on the casino operator’s stock. The stock currently trades at $84.98, near its 52-week high of $88.49, reflecting strong momentum with a 25% gain over the past six months.
The price target increase comes despite what Mizuho described as "net-negative" updates regarding the company’s Las Vegas operations, with the firm noting some weakness in Boyd’s destination business.
Mizuho highlighted that Boyd’s underlying fundamentals remained solid outside of destination market softness, with locals revenue and EBITDA both growing 2% excluding The Orleans property.
The research firm indicated it had previously factored some Vegas softness into its models, resulting in essentially unchanged fourth-quarter estimates despite the recent performance.
Mizuho continues to view Boyd shares as "very attractive" at less than 7x its 2026 EBITDA estimates, with the higher price target reflecting the firm’s extended outlook to 2026 to capture future tax payments and "somewhat substantial capital return/FCF." The stock currently trades at a P/E ratio of 13.1x and delivers a strong return on equity of 36%. For deeper insights into Boyd Gaming’s valuation and 13 additional ProTips, visit InvestingPro.
In other recent news, Boyd Gaming Corporation reported impressive financial results for the third quarter of 2025, outperforming analysts’ predictions. The company achieved an earnings per share (EPS) of $1.72, surpassing the expected $1.60. Additionally, Boyd Gaming’s revenue reached $1 billion, exceeding the anticipated $872.1 million. These results highlight the company’s strong performance in the recent quarter. No major mergers or acquisitions were announced in the latest updates. Analyst firms have not provided any new upgrades or downgrades for Boyd Gaming at this time. The recent financial success reflects positively on the company’s current strategies and market position.
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