Morgan Stanley Sees Potential Long-Term Opportunities for Boyd Gaming

In a report published Thursday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating and $13.00 price target on Boyd Gaming (NYSE: BYD).

In the report, Morgan Stanley noted, “BYD noted that mgmt had recently been in Japan and saw potential LONG-TERM opportunities in more tertiary markets. In addition, mgmt discussed looking at potential acquisitions, greenfield projects in CA and FL (done with partners), and it didn't reject the notions of either selling properties or converting to an OpCo/PropCo structure. While all these actions may just be thoughts, mgmt did guide to an increase in its corporate expense budget of $8m (or 17%) in 2014.”

Boyd Gaming closed on Wednesday at $11.61.