Telsey Upgrades Wynn Resorts (WYNN) to Outperform

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Go back to Telsey Upgrades Wynn Resorts (WYNN) to Outperform

Despite Strong Wynn Resorts (WYNN) Analyst Day, Wells Fargo Remains on the Sidelines

April 7, 2016 9:51 AM EDT

Wells Fargo analyst, Cameron McKnight, attended Wynn Resorts (NASDAQ: WYNN) resorts Analyst Day in Las Vegas. WYNN was the most bullish he can ever recall on Las Vegas driven by surging non-gaming demand but keeps his Market Perform rating because he believes Macau stabilization and improving Las Vegas trends are largely priced in.

The big news that came out of the analyst day was WYNN announced plans to redevelop its 130-acre golf course into Paradise Park and Lagoon. The project has a preliminary budget of $1-$1.5B and includes adding 1,000... More