Nomura analyst Harry C. Curtis said Tuesday that Tropical Storm Harvey will only have a "limited" impact on Boyd Gaming Corp. (BYD) and kept the Las Vegas-based company as a "buy."
In the "worst-case, near-term negative impact of Tropical Storm Harvey," Boyd's five Louisiana properties will be impacted by less than 3% in third quarter property-level Ebitda. The five locations account for roughly 20% of total property Ebitda for Boyd's 24 wholly owned properties.
Curtis places a $30 price target on Boyd, implying a 14% upside from Boyd's Monday closing price of $26.26. The company's stock has traded up 30% since the start of the year.
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