Cinderella Story Up 52% In 8 Weeks
The Dynamic Wealth Report
May 14, 2010
by Corey Williams, Editor
Back in March I told you about a stock with huge potential. I
said it could make you 4x or 5x your money in the next five years. And
so far, it’s looking great.
Is there still time to jump aboard? I’ll get to that in a minute…
If you remember, I had just got back from watching the NCAA college
basketball tournament in Las Vegas.
I’d been talking first hand with cab drivers, black jack dealers, and
other hotel staff. They all said the same thing. Business was improving.
The information from the front lines painted a great picture. People are
starting to travel and spend money in Las Vegas again.
I was convinced hotel and casino profits were recovering. And those
profits would drive stocks higher.
The Cinderella story I told you about is Boyd Gaming (BYD)…
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On March 23rd, you could have bought all the stock you wanted for around
$9.22.
Take a look at this chart of BYD. It’s gone nearly straight up since then.
Today BYD hit a high $14.07.
That’s a 52% gain in just 8 weeks!
And I think BYD is just getting warmed up. The potential for more gains
is outstanding.
BYD operates 15 casinos throughout the US and has a 50% stake in the
Borgata in Atlantic City.
From 2007 to March of ’09, BYD crashed from $54 to under $3. I
high-lighted a few of the issues that contributed to the fall. I knew if
management could navigate through these muddy waters, there’s a good
chance the stock could return to its former glory.
It looks like management is doing a great job.
Last week BYD reported Q1 earnings of $0.10 per share.
Better than the
$0.07 analysts were expecting. And a huge improvement over the $0.16 per
share loss they reported in Q1 of last year.
It‘s the best earnings have looked in the last few years.
And management expects improvements to continue. They’ve cut costs and
are now much leaner. Now, moderate revenue gains can drive substantial
earnings growth. And that could lead to big stock gains.
The return to positive earnings growth has caught at least one analyst’s
attention.
Argus upgraded the stock from sell to buy today. But most analysts still
haven’t changed their rating. Other analysts are behind the times since
downgrading BYD back in ’08 and early ’09.
Clearly the company is in a much better position today.
The Argus upgrade is the first of many I’m expecting. BYD should see a
lot of interest as more analysts jump on the bandwagon.
Congratulations to all of you who followed my recommendation. You’re up
52% in the last eight weeks. If you missed out, don’t worry. I think BYD’s
still a great buy at its current price. Grab some shares of BYD soon. As
more analysts upgrade the stock and the company performs, I’m expecting
the price to move even higher.
• FirstEnergy (FE) was upgraded by Argus this
week. They now have a buy rating and a $45 price target on the stock. The electric utility filed an application to merge with
Allegheny Energy (AYE).
• Netflix (NFLX) was downgraded to hold by Merriman
this week. The company has surged to a new 52-week high on rumors of a
possible takeover by Amazon.com (AMZN).
• Caris & Company started coverage on Yahoo! (YHOO)
this week with a buy rating. The internet company struck a deal with
China’s Ali Baba that could expand their reach into the China market.
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