Morgan Stanley upgraded Boyd Gaming to Overweight from Equal Weight with a price target of $74, up from $66. The analyst cites stabilizing trends, capital return catalysts and a “compelling valuation” for the upgrade. Boyd’s discounted valuation creates a compelling risk/reward with multiple potential catalysts, the analyst tells investors in a research note. The firm says that after several consecutive quarters of declines it appears Boyd’s regional business is starting to stabilize.
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