UPDATE: Bank of America Downgrades Boyd Gaming Corp from Buy to Underperform

Bank of America has published a report on Boyd Gaming Corp BYD downgrading the company. In the report, Bank of America wrote, "While we've been right on the Strip recovery, we've been wrong on BYD's ability to participate due to a less favorable U.S. outlook. Ultimately, we think you need a V-shaped macro recovery for the BYD thesis to work, and with headwinds gathering, new supply looming within a year and add'l liquidity risks, we think riskreward is less favorable and we're moving back to Underperform from Buy." Bank of America Downgraded Boyd Gaming Corp from Buy to Underperform with a price target of $7.00. Boyd Gaming Corp closed Tuesday at $7.94.