#4 - Boyd Gaming (NYSE:BYD)
Las Vegas is likely to be a popular destination in 2021. In early January, the research firm Heart + Mind conducted a survey in which 74% of respondents felt Las Vegas was the city best prepared to safely host in-person events in the second half of 2021. This included business travel which is not recovering as strongly as recreational travel.
But even if that doesn’t come to pass, the broader casino sector should enjoy some strong growth and that’s why I like Boyd Gaming (NYSE: BYD). The company’s portfolio of gaming properties spans 10 states which gives Boyd many opportunities to capture consumer dollars.
By many measures, BYD stock looks to be a bit overvalued after a run-up of over 190% in the last 12 months. And technical analysis suggests there may be better options at the moment. However, the fundamentals of Boyd look strong and the likelihood of higher revenue will add to the stock’s appeal.
The consensus price target of 13 analysts points to BYD stock going lower. However, the most recent price targets which came in after Boyd reported earnings in April are significantly higher. And the stock does not carry any sell ratings.
About Boyd Gaming
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.
Read More - Current Price
- $72.33
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $91.38 (26.3% Upside)
