BofA analyst Shaun Kelley lowered the firm’s price target on Boyd Gaming (BYD) to $70 from $77 and keeps a Buy rating on the shares. Following the company’s Q3 report, the firm lowers its 2024 EBITDAR estimate by 5% to reflect higher operating costs and supply headwinds from Red Rock Resorts’ (RRR) Durango. However, the firm reiterates its Buy rating, citing Boyd’s lower financial and operating leverage and relative value.
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