{"id":233594,"date":"2022-09-23T12:25:26","date_gmt":"2022-09-23T17:25:26","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=233594"},"modified":"2022-09-23T14:05:41","modified_gmt":"2022-09-23T19:05:41","slug":"boyd-stock-is-slumping-but-analyst-sees-rebound-potential","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/","title":{"rendered":"Boyd Gaming Stock Draws New Bull Coverage"},"content":{"rendered":"

Like its gaming peers, Boyd Gaming (NYSE:BYD) stock is slumping. But some analysts see opportunity in shares of the Aliante operator.<\/p>\n

\"Boyd
Boyd Gaming’s Orleans casino-hotel in Las Vegas. An analyst is constructive on the stock. (Image: Vegas Means Business<\/em>)<\/figcaption><\/figure>\n

In a note to clients today, JMP Securities analyst Jordan Bender initiated coverage of Boyd stock with an \u201coutperform\u201d rating and a $65 price target. That implies upside of 34.2% from the Sept. 22 close. Nevada — Boyd\u2019s home and largest market — is one of the reasons the analyst is bullish on the shares.<\/p>\n

Macro factors in Nevada, such as home prices and taxable sales, remain healthy, supporting a strong spend per head in the locals\/downtown market where the company generates ~39% of its earnings,\u201d Bender wrote. \u201cAs a result, NV has proven to be one of the healthiest gaming markets, outpacing U.S. regional gaming in nearly every month since the onset of the pandemic.\u201d<\/p><\/blockquote>\n

Boyd runs 28 gaming venues across 10 states, including 11 in its home city, and it\u2019s the dominant operator in downtown Las Vegas.<\/p>\n

Boyd Stock Under Pressure<\/h2>\n

Bender\u2019s new coverage of Boyd stock arrives with the stock under pressure, as is the case with many of its rivals across the casino equity complex.<\/p>\n

\n

The stock is down 9.91% over the past week — a period that included Wednesday\u2019s 75 basis-point interest rate increase by the Federal Reserve. Over the past month, shares of the Orleans operator are lower by almost 13%. That time frame included the worse-than-expected August reading of the Consumer Price Index (CPI).<\/a><\/p>\n<\/div>\n

Those are signs macroeconomic factors are pinching casino stocks of all varieties. For Boyd, however, its substantial Nevada footprint is potentially more attractive in times like these. That’s because the bulk of its venues in the Las Vegas area aren\u2019t heavily dependent on tourists, but rather on locals that aren\u2019t worried about high airfare and gas prices.<\/p>\n

Bender notes that Nevada\u2019s favorable demographics and growing population can provide long-term<\/a> tailwinds to Boyd stock. He also applauded the company\u2019s strong balance sheet and nascent but growing iGaming exposure.<\/p>\n

Bullish on Gaming and Leisure Properties, Too<\/h2>\n

Casino real estate investment trust Gaming and Leisure Properties (NASDAQ:GLIP) also earned a bull call from Bender.<\/p>\n

The analyst started coverage of that stock with an \u201coutperform\u201d and a $53 price target. That implies upside of 13.8% from the Sept. 22 close.<\/p>\n

Our positive opinion is based on several factors, including durable earnings backed by long-term leases with publicly traded casino operators, its ability to demonstrate off-market transactions leveraging its client relationships and reputation from management, strong capital position with low leverage and ample liquidity, and compelling absolute and relative valuation,\u201d wrote the analyst.<\/p><\/blockquote>\n

Gaming and Leisure, which owns the real estate<\/a> of the Tropicana on the Strip, has a \u201cstellar track record for value creation,\u201d added Bender.<\/p>\n","protected":false},"excerpt":{"rendered":"

Like its gaming peers, Boyd Gaming (NYSE:BYD) stock is slumping. But some analysts see opportunity in shares of the Aliante operator. In a note to clients today, JMP Securities analyst Jordan Bender initiated coverage of Boyd stock with an \u201coutperform\u201d rating and a $65 price target. That implies upside of 34.2% from the Sept. 22 […]<\/p>\n","protected":false},"author":46,"featured_media":233597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,81886],"tags":[81897,81903,23],"acf":[],"yoast_head":"\nBoyd Stock Is Slumping But Analyst Sees Rebound Potential<\/title>\n<meta name=\"description\" content=\"Boyd stock can be a long-term winner thanks to Nevada exposure, says analyst.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boyd Stock Is Slumping But Analyst Sees Rebound Potential\" \/>\n<meta property=\"og:description\" content=\"Boyd stock can be a long-term winner thanks to Nevada exposure, says analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-23T17:25:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-23T19:05:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/\",\"url\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/\",\"name\":\"Boyd Stock Is Slumping But Analyst Sees Rebound Potential\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg\",\"datePublished\":\"2022-09-23T17:25:26+00:00\",\"dateModified\":\"2022-09-23T19:05:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Boyd stock can be a long-term winner thanks to Nevada exposure, says analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg\",\"width\":1200,\"height\":675,\"caption\":\"Boyd Gaming's Orleans casino-hotel in Las Vegas. An analyst is constructive on the stock. (Image: Vegas Means Business)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Boyd Gaming Stock Draws New Bull Coverage\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Boyd Stock Is Slumping But Analyst Sees Rebound Potential","description":"Boyd stock can be a long-term winner thanks to Nevada exposure, says analyst.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/","og_locale":"en_US","og_type":"article","og_title":"Boyd Stock Is Slumping But Analyst Sees Rebound Potential","og_description":"Boyd stock can be a long-term winner thanks to Nevada exposure, says analyst.","og_url":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-09-23T17:25:26+00:00","article_modified_time":"2022-09-23T19:05:41+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/","url":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/","name":"Boyd Stock Is Slumping But Analyst Sees Rebound Potential","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg","datePublished":"2022-09-23T17:25:26+00:00","dateModified":"2022-09-23T19:05:41+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Boyd stock can be a long-term winner thanks to Nevada exposure, says analyst.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/orleans.jpg","width":1200,"height":675,"caption":"Boyd Gaming's Orleans casino-hotel in Las Vegas. An analyst is constructive on the stock. (Image: Vegas Means Business)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/boyd-stock-is-slumping-but-analyst-sees-rebound-potential\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Boyd Gaming Stock Draws New Bull Coverage"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/233594"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=233594"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/233594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/233597"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=233594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=233594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=233594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}