{"id":10689,"date":"2013-04-25T16:38:42","date_gmt":"2013-04-26T00:38:42","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=10689"},"modified":"2022-06-24T05:35:43","modified_gmt":"2022-06-24T13:35:43","slug":"today-its-boyds-turn-to-shine","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/today-its-boyds-turn-to-shine\/","title":{"rendered":"Today, it’s Boyd’s turn to shine"},"content":{"rendered":"

Even the illusion of a rising tide lifts all boats, it would appear. Yesterday’s big stock-pump by Caesars \"\"Entertainment<\/strong> carried Boyd Gaming<\/strong> up with it, as did much-better-than-expected first-quarter numbers from Boyd<\/a>. Shares that closed Tuesday at $8.94 were riding as high a $11.70 today. As one Wall Street<\/strong> newsletter put it “What to do 23% later”? Set a higher price target, for one thing. Boyd executives have long held that the stock is undervalued, largely due to Boyd’s vulnerability in the urban and suburban Las Vegas<\/strong> markets, with the former showing some worrisome slippage.<\/p>\n

\"\"As Motley Fool<\/strong> pointed out<\/a>, Peninsula Gaming<\/strong> acquisitions are driving all of the 1Q13 growth. Still, J.P. Morgan<\/strong> analysts assigned 25% of their new, higher stock valuation to Borgata<\/strong> alone — and its ability to penetrate<\/a> New Jersey<\/strong>‘s intrastate Internet<\/strong>-gambling market. “Organic revenue growth is negative and the company still isn’t making a significant profit. I’d sell on the bump and move on to higher quality gaming companies<\/em>,” wrote Fool<\/em> analyst Travis Hoium<\/strong>. Boyd CEO Keith Smith<\/strong> pounded the theme of greatly improved cash flow in the Vegas market, even if not all were persuaded. Carlo Santarelli<\/strong> predicted near-term cashing out by shareholders and argued, in essence, that Wall Street<\/strong> was “yearning for a locals inflection with legs”\u00a0 and other indications of recovery — and was therefore willing to overlook the difficulty (in his view) of sustaining this momentum. Even so, Santarelli likes BYD better than does his Morgan opposite number, Joseph Greff<\/strong>, who will only raise his price target to $8, compared to Santarelli’s $10. If you invest in Boyd, you ship will eventually come in, but today’s rally demonstrates how long the wait can be.<\/p>\n","protected":false},"excerpt":{"rendered":"

Even the illusion of a rising tide lifts all boats, it would appear. Yesterday’s big stock-pump by Caesars Entertainment carried Boyd Gaming up with it, as did much-better-than-expected first-quarter numbers from Boyd. Shares that closed Tuesday at $8.94 were riding … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,88,60,28,37,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10689"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=10689"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10689\/revisions"}],"predecessor-version":[{"id":31315,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10689\/revisions\/31315"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=10689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=10689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=10689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}