Boyd Gaming (BYD) PT Lowered to $83 at Mizuho

Mizuho analyst Ben Chaiken lowered the price target on Boyd Gaming (NYSE: BYD) to $83.00 (from $86.00) while maintaining a Outperform rating.

The analyst comments "1Q25 Estimate Changes: For 1Q25, we model property EBITDAR of $349.4m (vs. previous $361.4m and Street $354.1m). Within Locals, we estimate EBITDA of $106.3m (vs. previous $111m and Street $107.3m), driven largely by lower overall market growth to -0.5% YoY (from +1% previously). In Downtown, we estimate EBITDA of $17.8m (vs. previous $20.2m and Street $18.1m), driven by a market decline of -3.5% (vs previous 3.0%). In Midwest/South we estimate EBITDA of $180.8m (vs. previous $185.7m and Street $181.7m), driven largely by weather and softer than expected March results. Our Digital estimate of $20.8m is unchanged (vs. Street $22.2m)."

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