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twitterBoyd stock rises on Mirage takeover talk
Friday, Oct. 8, 1999 | 11:18 a.m.
Boyd Gaming Corp. stock rose this morning after the Las Vegas-based casino operator received favorable coverage in Business Week's "Inside Wall Street" column.
The magazine's Oct. 18 issue quotes money manager Steve Kroll of Monness Crespi & Hardt as saying Boyd stock is undervalued relative to other casino stocks and as a potential takeover target, perhaps by Mirage Resorts Inc. of Las Vegas.
Kroll sees the stock worth $20. Boyd stock closed up 13 cents at $6.50 Thursday. It was up 44 cents to $6.94 in heavy trading this morning.
Boyd also was rated "outperform" in new coverage this week by Salomon Smith Barney analyst Michael Rietbrock.
Boyd is best known in Las Vegas as the owner of Sam's Town on Boulder Highway, the Stardust on the Strip and for a collection of downtown properties including Main Street Station.
Boyd operates casinos around the nation and is co-developing a resort complex with Mirage in Atlantic City.
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