Wynn Resorts Ltd (WYNN): Cutting Ests and PT On Lower Las Vegas Rev Par - Deutsche Bank

Deutsche Bank analyst, Carlo Santarelli, reiterated his Buy on shares of Wynn Resorts (NASDAQ: WYNN) taking the price target down to $190 from $195 on the belief that believe QTD trends are more challenged than previously anticipated. The analyst believes shares trade primarily on Macau fundamentals and broader China macro sentiment so while valuation and FCF optionality look compelling favorable revisions are key to the story and less likely.

The analyst expects Wynn LV to fall short of its flat 3Q18 RevPAR guidance and is forecasting a 4% RevPAR decline in the period. He stated "Overall, our Wynn LV EBITDA forecast for the 3Q18 is down ~$9 mm from our previous forecast, which was already 5% below Consensus".

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 $149.81 yesterday.

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