The firm said it raised its rating on the casino operator based on positive management meetings.
Credit Suisse recently held investor meetings with Boyd's CEO and CFO and said they walked away with the view that there is increased stability and the potential for modest growth in core markets, including Las Vegas and Atlantic City.
The firm believes that the company will also benefit from the gradual improvement to the Las Vegas market.
Credit Suisse raised its price target on Boyd Gaming to $18 from $17.
Shares of Boyd Gaming closed at $14.32 on Friday afternoon.
Separately, TheStreet Ratings team rates BOYD GAMING CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOYD GAMING CORP (BYD) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
Highlights from the analysis by TheStreet Ratings Team goes as follows: