Bear Stearns Lifts Estimates on Wynn Resorts (WYNN)
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Price: $99.60 -0.5%
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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CONTRIBUTOR http://notablecalls.blogspot.com
Bear Stearns is upping their 4Q projections for Wynn Resorts (NASDAQ: WYNN). Specifically, they are raising their Macau EBITDA projection to $54.7mm from prior $49.8mm (due to growing market share, strong table and slot volumes). Firm's 4Q EPS goes to $0.46, which is $0.02 above Consensus.
Firm continues to believe WYNN is a solid play on two 1H07 themes in the gaming sector: 1) strong high-end trends on the Las Vegas Strip and 2) growing market shares gains (Wynn specifc) and increasing EBITDA/cash flows in the growing Macau gaming market.
Reits Outperform rating and $108 tgt.
Notablecalls: Two reasons I decided to highlight this one: 1) The chart looks good 2) It's been squeezing the hell out of shorts over the past couple of weeks. Some bears were pretty convinced WYNN was done around end of Dec. Expect them to put up a fight at around $99-100 level.
For more calls go to http://notablecalls.blogspot.com
Bear Stearns is upping their 4Q projections for Wynn Resorts (NASDAQ: WYNN). Specifically, they are raising their Macau EBITDA projection to $54.7mm from prior $49.8mm (due to growing market share, strong table and slot volumes). Firm's 4Q EPS goes to $0.46, which is $0.02 above Consensus.
Firm continues to believe WYNN is a solid play on two 1H07 themes in the gaming sector: 1) strong high-end trends on the Las Vegas Strip and 2) growing market shares gains (Wynn specifc) and increasing EBITDA/cash flows in the growing Macau gaming market.
Reits Outperform rating and $108 tgt.
Notablecalls: Two reasons I decided to highlight this one: 1) The chart looks good 2) It's been squeezing the hell out of shorts over the past couple of weeks. Some bears were pretty convinced WYNN was done around end of Dec. Expect them to put up a fight at around $99-100 level.
For more calls go to http://notablecalls.blogspot.com
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