Wynn Resorts, Limited (WYNN) – Research Analysts’ Recent Ratings Updates
A number of firms have modified their ratings and price targets on shares of Wynn Resorts, Limited (NASDAQ: WYNN) recently:
- Wynn Resorts, Limited was upgraded by analysts at Compass Point from a “sell” rating to a “neutral” rating. They now have a $110.00 price target on the stock, up previously from $95.00. They wrote, “Despite the in-line results, we are upgrading our rating to Neutral due to better than expected trends in Las Vegas. Further, while we continue to believe the stock is over-valued and that FY13 expectations remain too elevated, we no longer believe a Sell rating is warranted as the improving Las Vegas conditions and doubled dividend should limit the potential for more meaningful downside. We increase our price target to $110, which includes the $8 special dividend.”
- Wynn Resorts, Limited had its price target raised by analysts at Nomura from $137.00 to $148.00. They now have a “buy” rating on the stock.
- Wynn Resorts, Limited had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $135.00 price target on the stock.
- Wynn Resorts, Limited had its “neutral” rating reaffirmed by analysts at Janney Montgomery Scott. They now have a $120.00 price target on the stock.
- Wynn Resorts, Limited had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $126.00 price target on the stock. Zacks‘ analyst wrote, “Wynn Resorts’ reported third quarter 2012 profits above expectation, benefiting from strong gambling business at Las Vegas. Moreover, a special dividend in the reported quarter as well as a boost in quarterly dividend for the next year was also encouraging. Additionally, despite the weak operating results at Macau in the reported quarter, long-term growth potential of the Macau market remains solid. We also remain encouraged by the company’s strong brand name, healthy balance sheet, strong cash flow position, relatively low capital requirements and its ability to perform in a difficult operating environment. However, stiff competition particularly in Macau, uncertainty over the U.S. presidential election, and limited diversity pose as near term hindrances. Hence, we remain Neutral on the stock.”
- Wynn Resorts, Limited had its “buy” rating reaffirmed by analysts at Topeka Capital. They now have a $145.00 price target on the stock. They wrote, “Following the Company’s announcement of 3Q12 financial results on October 24, we are reducing our 4Q12 and 2013 EPS estimates for WYNN, as well as lowering our price target on the stock from $150 to $145. Our estimate reductions reflect a more moderate pace of growth in Macau VIP wagering volume. Notwithstanding our expectation of slower near-term revenue growth in Macau, WYNN’s current valuation belies the potential profit contribution of its Cotai resort project.”
Shares of Wynn Resorts, Limited opened at 122.90 on Friday. Wynn Resorts, Limited has a 52 week low of $90.11 and a 52 week high of $138.28. The company has a market cap of $12.274 billion and a P/E ratio of 23.37.
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts.