Boyd Gaming sells former Eastside Cannery site for $28.8 million

Deutsche Bank upgraded Boyd Gaming (BYD) and Penn Entertainment (PENN) to 'buy', citing solid fundamentals and upside potential. BYD's price target raised to $99, PENN to $25. Both stocks have declined 21.6% and 31.4% respectively over the past 90 days. Analyst notes strong capital allocation and growth projects for BYD, and deleveraging for PENN.

Deutsche Bank upgraded Penn Entertainment (PENN) and Boyd Gaming (BYD) to 'buy' due to improving gaming demand outlook, citing August's weak revenue as a calendar effect. It raised price targets to $25 (66% upside) for Penn and $99 (47% upside) for Boyd. Both stocks have fallen significantly over the past three months. Deutsche expects sector fundamentals to improve, with Penn's EBITDAR estimates above consensus and Boyd's share repurchases supporting its outlook.

A U.S. appeals court ruled that states can regulate event contracts under gambling laws, impacting companies like Kalshi and Boyd Gaming Corp (NYSE: BYD). BYD is deemed modestly undervalued with a GF Value of $91.70 vs. current price of $71.23, and has a GF Score of 86/100. Insiders sold $26.4M in shares over the past year.

BYD, a Chinese EV manufacturer, cut prices on its Atto 1 model by 25% to $19,900 to boost sales. BYD Australia's COO, Stephen Collins, stated this won't spark a price war, despite Beijing's warnings against aggressive discounting.

BYD, the largest Chinese car manufacturer, plans to expand in Europe with three vehicle assembly plants and one battery plant. The company's advisor, Alfredo Altavilla, revealed these plans to Reuters, aiming to comply with European regulations and meet volume targets. BYD has already started trial production in Hungary and is in talks with governments in Spain, France, and Italy for additional sites. The company is focusing on overseas markets as sales in China decline, with overseas deliveries

BYD is recalling 183,211 vehicles in China, including Tang SUVs and Qin sedans, due to faulty brake pedal stoppers that may cause brake lights to stay on. The recall, initiated by BYD, covers vehicles produced between 2014 and 2022. This is BYD's third major recall in a year, amid declining sales and financial pressure from China's EV price war. BYD's first-half net profit fell 20.5% to 12.33 billion yuan.