Boyd Group Services upgraded to Outperform from Sector Perform at National Bank

National Bank upgraded Boyd Group Services to Outperform from Sector Perform with an unchanged C$310 price target. The company’s same-store sales growth trends thus far in Q2 are “poor” as exceptionally mild weather bucked the usual trend of spring months usually benefiting from a winter backlog until summer driving picks up, the analyst tells investors in a research note. The firm states however that its slight negative revisions to organic growth estimates are offset by favorable FX movement, adding that it sees an attractive risk/reward dynamic at current levels.