Janney Capital Resumes Wynn Resorts (WYNN) at Neutral

Janney Capital resumes coverage on Wynn Resorts (NASDAQ: WYNN) with a Neutral rating and a price target of $150.00.

Analyst Brian McGill commented, "We are resuming coverage of WYNN with a NEUTRAL. Although it was difficult to assign this rating, we think it is appropriate given the uncertainty and negative sentiment surrounding Macau. Competitors on Cotai have also been concerned about opening dates and table allocations for new properties. We think this could negatively impact the perception of the Wynn Palace until it opens. On the positive side, LV fundamentals are strong and WYNN has a very talented management team. Our fair value of $150 is 13x our 2015 EBITDA plus $28 for Cotai."

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 $146.01 yesterday.

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