Boyd Gaming price target raised to $92 from $88 at Truist

Truist raised the firm’s price target on Boyd Gaming (BYD) to $92 from $88 and keeps a Buy rating on the shares. The company’s Q4 marked a broad beat to the firm’s recently raised estimates as Treasure Chest outperformed and drove growth, with core strength and retail stability seen across Locals and Downtown casinos in Las Vegas, the analyst tells investors in a research note. Truist maintains that Boyd is a core holding for gaming investors given a stellar balance sheet, greenfield/refurb growth, and capital returns at a still-undemanding valuation, the firm added.