BYD: Adding Boyd Gaming to Investing Ideas (Long Side)

10/27/20 03:36PM EDT

Hedgeye CEO Keith McCullough is adding Boyd Gaming (BYD) to the long side of Investing Ideas. Below is a brief note.

Waiting & watching has its perks, when your Independent Research team bench is as deep as mine is...

As all subscribers to The Call @Hedgeye are well aware, Gaming, Lodging, and Leisure analyst Todd Jordan has crushed it with his Long Boyd Gaming (BYD) pivot call this year.

All we had to so was wait for a "sell the news" immediate-term TRADE #oversold signal to remind you of the upside from here (per TJ):

"We’ve been running ahead of the other bulls for over a month now and apparently we weren’t fast enough on our top idea in gaming.  Our new and higher 2022 EBITDA estimates combined with significant sports betting (SB) and iGaming value, justifies a much higher stock price – $50-60 is now in the cards."

Buyem on red,

KM

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