Nomura Securities Maintains a 'Neutral' on Boyd Gaming (BYD); Lifting EBITDA Estimates

Nomura Securities maintains a 'Neutral' on Boyd Gaming (NYSE: BYD) price target of $9.00.

Analyst, Harry C. Curtis, said, "We are encouraged by Q1’s top-line strength in the Midwest/South segment, which could be sustainable. We also expect IP’s EBITDA to lift further, enhanced by BYD’s efficiency programs...We raised our 2012 net EBITDA estimate to $522m from $503m, which reflects: 1) $8m of Q1 EBITDA upside; 2) ~5% revenue growth estimate (vs. prior ~1%) at same-store Midwest/South properties; & 3) timing shift of the expected competitive impact in AC (to the Fall)." (FY12 EPS estimate cut from $0.33 to $0.32)

For an analyst ratings summary and ratings history on Boyd Gaming click here. For more ratings news on Boyd Gaming click here.

Shares of Boyd Gaming closed at $7.78 yesterday.

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