Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of casino operator Boyd Gaming
So what: Citing a Las Vegas market that seems poised for a multiyear cyclical recovery, Merrill offered a $16 price target with the upgrade, representing 45% upside to Boyd's closing price Monday. Not surprisingly, Merrill also upgraded MGM Resorts
Now what: I'd remain cautious about buying in right now. Boyd certainly stands to benefit from a continuing recovery in Las Vegas, but Asia-exposed casinos like Las Vegas Sands
Interested in more info on Boyd? Add it to your watchlist.
We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.