Gaming Stocks Jump on Bullish Analyst Comments (LVS, WYNN, more)
An analyst at Thomas Weisel issued a research note on two popular gaming companies this morning -- Las Vegas Sands (NYSE: LVS) and Wynn Resorts (Nasdaq: WYNN). While the report only specifically mentioned Las Vegas Sands and Wynn, the entire gaming sector is surging today as the points made by the analyst bode well for the space as a whole. Shares of Las Vegas Sands are currently up 16.9% to $6.94, while shares of Wynn are up 9.4% to $46.29.
The Thomas Weisel analyst argues that the two casino stocks are now "priced just right" considering a wave of recent estimate cuts. The analyst sees limited risk to his Q4 expectations and kept Overweight ratings on both Las Vegas Sands and Wynn. Further, the analyst has $13 and $60 price targets on Las Vegas Sands and Wynn, respectively.
Elsewhere in the sector:
- MGM MIRAGE (NYSE: MGM) up 10% to $15.13
- Melco Crown (Nasdaq: MPEL) up 8.2% to $3.43
- Trump Entertainment Resorts (Nasdaq: TRMP) up 35% to $0.23
- Pinnacle Entertainment (NYSE: PNK) up 9.4% to $8.40
Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts.
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