$BYD

S&P Global Ratings upgraded Boyd Gaming's (BYD) outlook to positive, citing strong balance sheet management. The company's adjusted leverage is expected to rise temporarily due to a $750M Virginia resort project, but should return to mid-2x by 2027. S&P projects a 2% EBITDA decline in 2026, followed by 4% growth in 2027. Cash flow is forecast to increase significantly post-construction, with potential for a rating upgrade if Nevada demand recovers.

Analysts lowered Boyd Gaming Corporation's average stock price target to $89.18, down from $91.76, with a range of $75 to $107. This implies a 23% upside from the Oct. 22 closing price. The consensus rating remains 'Buy' among 20 analysts.

StoneX reduced its price target for Boyd Gaming (NYSE:BYD) to $80 from $100, citing Las Vegas weakness but praising its strong cash flow and share buybacks. Boyd Gaming's Q3 2026 earnings missed estimates, with $1.67 EPS and $990.5M revenue. Stifel also cut its target to $80, maintaining a Hold rating. Boyd Gaming shares are down 15.2% year-to-date.

Boyd Gaming (BYD) reported Q3 Non-GAAP EPS of $1.67, exceeding estimates by $0.05, but revenue of $990.46M missed expectations by $9.54M. The company attributes its performance to its diversified business model, according to CEO Keith Smith.

New Jersey's casino revenue fell 1.3% in September, with flat Q3 growth. Caesars (CZR) saw a 9.4% increase, while MGM (MGM) faced a 1.2% decline due to renovations. Penn (PENN) and Churchill (CHDN) reported growth of 3.9% and 3.5%, respectively. The overall U.S. market grew 3.4% in Q3, according to Jefferies.

Wells Fargo maintained an 'Equal-Weight' rating for Boyd Gaming (BYD) but lowered its price target from $87.00 to $86.00. The company is seen as 23.9% undervalued with a GF Value™ of $92.06, and has a GF Score™ of 85/100. Insider activity shows significant selling, with $1.15M in sales over the last three months.

Wall Street analysts issued updates on multiple companies. Upgrades include Boyd Gaming (BYD) to Overweight, CoreWeave (CRWV) to Buy, Datadog (DDOG) to Outperform, and Intel (INTC) to Neutral. Downgrades include Ameriprise Financial (AMP) to Underperform, LCI Industries (LCII) to Hold, and PayPal (PYPL) to Underperform. New initiations include Azul (AZUL) with Neutral, Pinterest (PINS) with Buy, and others.

Analysts upgraded several companies: JP Morgan upgraded Intel (INTC) to Neutral with an $85 target, Morgan Stanley upgraded Boyd Gaming (BYD) to Overweight with an $83 target, B of A upgraded Dow (DOW) to Neutral with a $31 target, Morgan Stanley upgraded Global-E (GLBE) to Overweight with a $50 target, and Bernstein upgraded Datadog (DDOG) to Outperform with a $350 target.

Analysts updated price targets for several companies. Bernstein raised Microsoft's target to $662, maintaining an Outperform rating. Morgan Stanley increased Global-E Online's target to $50 and upgraded it to Overweight. Other notable changes include Truist Financial, Annexon, Ameriprise Financial, Lyft, A O Smith, Hudson Pacific Properties, Boyd Gaming, and Veradermics.

Susquehanna upgraded Boyd Gaming (NYSE:BYD) to Positive from Neutral with an $83.00 price target, citing a 23% stock decline and expected growth in its Las Vegas Locals portfolio by Q4 2026. The stock trades at $70.04, with a P/E ratio of 2.99 and a Fair Value of $84.26. Analysts have mixed outlooks on Boyd's performance and future prospects.