Wynn Resorts (WYNN) PT Raised to $233 at Citi Following 1Q
Citi raised its price target on Wynn Resorts (NASDAQ: WYNN) to $233.00 (from $225.00) while maintaining a Buy rating following the company's 1Q earnings report. Adjusted EPS grew to US$2.30 (vs. US$1.40 in 4Q17 and US$1.24 in 1Q17). Management also announced quarterly DPS of US$0.75 for 1Q18.
Wynn Resorts reported 1Q18 property EBITDA of US$564m, with beats in both Macau and Las Vegas. Wynn Macau reported a 13% QoQ EBITDA growth to US$210m. Las Vegas reported EBITDA of US$143m.