JPMorgan analyst Joseph Greff upgraded Boyd Gaming Group to Overweight saying the company's regional gaming portfolio should continue to benefit from U.S. jobs growth and lower gas prices. The analyst sees a positive set-up for the stock and upped his price target for the name to $22 from $20.

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Reports Q1 revenue $960.5M, consensus $958.74M. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "After a record 2023, the first quarter of 2024 was a challenging start to the year. Severe winter weather had a significant impact on our Midwest & South segment early in the quarter while we also experienced increased competitive pressures in the Las Vegas Locals market. However, throughout our business, many of the positive trends from the fourth quarter continued into the new year. By focusing on our disciplined operating and marketing strategies, we have been able to maintain strong operating margins. Additionally, our significant cash flows and strong balance sheet allow us to continue returning capital to our shareholders through our ongoing share repurchases and quarterly dividend programs. Looking ahead, we remain confident in our ability to successfully navigate the current environment and deliver value to our shareholders."