KeyBanc Upgrades Wynn Resorts (WYNN) to Buy Citing High End Dominance and Valuation
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Price: $141.64 -0.55%
Rating Summary:
19 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
19 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade WYNN Now!
KeyBanc upgraded Wynn Resorts (NASDAQ: WYNN) to Buy with a price target of $145, citing high end dominance and valuation.
The firm notes that the Macau gaming market continues its robust trends and Las Vegas is showing signs of recovery. "We expect Macau to be a bright spot for WYNN in 2012 as it remains the most vibrant gaming locale in the world with both visitation and spend per visit continuing to improve," the analyst said.
The firm is raising 2012 ESP estimates and is setting 2013 estimates above the consensus on the strength in Macau and improving ADR's and gaming wins in Las Vegas. 2012 and 2013 estimates are $6.47 and $7.15, respectively, compared to consensus estimates of $6.21 and $7.09, respectively.
For an analyst ratings summary and ratings history on Wynn Resorts click here. For more ratings news on Wynn Resorts click here.
Shares of Wynn Resorts closed at $107.02 yesterday, with a 52 week range of $99.21-$172.58.
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The firm notes that the Macau gaming market continues its robust trends and Las Vegas is showing signs of recovery. "We expect Macau to be a bright spot for WYNN in 2012 as it remains the most vibrant gaming locale in the world with both visitation and spend per visit continuing to improve," the analyst said.
The firm is raising 2012 ESP estimates and is setting 2013 estimates above the consensus on the strength in Macau and improving ADR's and gaming wins in Las Vegas. 2012 and 2013 estimates are $6.47 and $7.15, respectively, compared to consensus estimates of $6.21 and $7.09, respectively.
For an analyst ratings summary and ratings history on Wynn Resorts click here. For more ratings news on Wynn Resorts click here.
Shares of Wynn Resorts closed at $107.02 yesterday, with a 52 week range of $99.21-$172.58.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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