Barclays Maintains an 'Overweight' on Wynn Resorts (WYNN); Adjusting Estimates and Re-Examing Cotai Project
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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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Barclays maintains an 'Overweight' on Wynn Resorts (NASDAQ: WYNN) price target raised from $164 to $176.
Analyst, Felicia R. Hendrix, said, "Wynn's 1Q12 results were unsurprising and reflected low hold in Macau and normalized hold in Las Vegas. Looking forward, Wynn's solid Macau VIP volume growth in 1Q12 and the increase in gaming volumes and non-gaming revenue metrics in Las Vegas bode well for the rest of the year."
Hendrix raises valuation of the Cotai project to reflect approx. $46/share vs. prior estimate of approx. $28/share. She assumes the project will cost approx. $3.5 billion and open in 2016.
Barclays lowers FY12 EPS estimate from $5.96 to $5.91 and FY13 from $8.20 to $7.84.
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 $125.19 yesterday.
Analyst, Felicia R. Hendrix, said, "Wynn's 1Q12 results were unsurprising and reflected low hold in Macau and normalized hold in Las Vegas. Looking forward, Wynn's solid Macau VIP volume growth in 1Q12 and the increase in gaming volumes and non-gaming revenue metrics in Las Vegas bode well for the rest of the year."
Hendrix raises valuation of the Cotai project to reflect approx. $46/share vs. prior estimate of approx. $28/share. She assumes the project will cost approx. $3.5 billion and open in 2016.
Barclays lowers FY12 EPS estimate from $5.96 to $5.91 and FY13 from $8.20 to $7.84.
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 $125.19 yesterday.
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