BUZZ-Boyd Gaming slumps after Q1 profit miss, brokerages cut PT

Reuters04-26

** Shares of casino operator Boyd Gaming drop 11.9% to $55.40 premarket

** Co's Q1 adj. EPS of $1.51 misses analysts' estimates of $1.57 - LSEG data

** Q1 revenue, however, comes in above estimates

** J.P.Morgan downgrades BYD to "neutral" from "overweight" on concerns of bad weather and market competition pressuring casino visits from lower-spending gaming customers

** Deutsche Bank also downgrades stock to "hold" from "buy"

** Six brokerages separately cut their price targets on BYD

** Six brokerages have a "buy" or higher rating on co, while nine maintain "sell"; median price at $73.50 - LSEG data

** Stock fell 16.8% in 2023, and has recovered 14.8% so far this year

(Reporting by Purvi Agarwal in Bengaluru)

((Purvi.Agarwal@thomsonreuters.com))

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