Susquehanna Downgrades Boyd Gaming Corporation (BYD) to Neutral
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Susquehanna downgrades Boyd Gaming Corporation (NYSE: BYD) from Positive to Neutral.
Susquehanna analyst says, "Given rapidly deteriorating fundamentals in U.S. gaming markets, particularly the Las Vegas locals and downtown markets, we have adjusted both our estimates and target multiples for BYD. In light of this revision, the upside potential in BYD's shares no longer meets our criteria for a Positive rating."
Boyd Gaming Corporation is a multi-jurisdictional gaming company. As of December 31, 2007, the Company wholly owned and operated 15 casino entertainment facilities located in eight distinct gaming markets in five states.
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