Nomura Securities Maintains a 'Buy' on Wynn Resorts (WYNN); Q3 Review

Nomura Securities maintains a 'Buy' on Wynn Resorts (NASDAQ: WYNN) price target of $175.00.

Nomura analyst, Harry Curtis, said, "A special dividend was not announced, but it isn’t still possible. A possible reason WYNN didn’t pay an incremental div. now is to exhibit the strength of its balance sheet to legislators/regulators selecting developers. Also encouraging is that Macau had an in line Q3 but Q4 is off to a “gangbusters” start. In Las Vegas, adjusted for low hold, Q3 EBITDA exceeded expectations. We adjusted our 2011E EPS from $5.42 to $5.34, 2012E from $5.83 to $6.19 and 2013E from $7.00 to $7.35. At a pre-open valuation of $124, WYNN trades at ~9.0x 2012 EBITDA and ~14x 2012 cash flow, which we view as attractive."

For more ratings news on Wynn Resorts click here and for the rating history of Wynn Resorts click here.

Shares of Wynn Resorts closed at $130.27 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• McGraw Hill (MH) PT Raised to $15 at UBS