Nomura Securities Maintains a 'Buy' on Wynn Resorts (WYNN); Cotai Gazette Deal Getting Close
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Price: $102.53 +0.16%
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Wynn Resorts (NASDAQ: WYNN) price target of $139.00.
Analyst, Harry C. Curtis, said, "According to a Jornal Tribuna de Macau article published today, a source close to the project has indicated that the contract signature ceremony is scheduled for April 30...However, the gazetting (i.e., the formal announcement) is expected to occur in the second week of May...This is yet another unconfirmed news article of late speculating that WYNN is close to obtaining Cotai approval (see our note from 4/18 and Steve Wynn was quoted by a 4/25 Business Daily article as saying he is “hopeful” the Cotai land grant could be in place by next week)."
"Assuming WYNN’s Cotai land is gazetted by end of May, we think the next catalyst for the company is more clarity on the disputed Okada shares...Our current WYNN PT is $139, but does not include any accretion from the disputed Okada shares."
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 $128.90 yesterday.
Analyst, Harry C. Curtis, said, "According to a Jornal Tribuna de Macau article published today, a source close to the project has indicated that the contract signature ceremony is scheduled for April 30...However, the gazetting (i.e., the formal announcement) is expected to occur in the second week of May...This is yet another unconfirmed news article of late speculating that WYNN is close to obtaining Cotai approval (see our note from 4/18 and Steve Wynn was quoted by a 4/25 Business Daily article as saying he is “hopeful” the Cotai land grant could be in place by next week)."
"Assuming WYNN’s Cotai land is gazetted by end of May, we think the next catalyst for the company is more clarity on the disputed Okada shares...Our current WYNN PT is $139, but does not include any accretion from the disputed Okada shares."
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 $128.90 yesterday.
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