UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Lowers PT on Wynn Resorts
In a report published Wednesday, Cantor Fitzgerald reiterated its Buy rating on Wynn Resorts Limited (NASDAQ: WYNN), but slightly lowered its price target from $134.00 to $133.00.
Cantor Fitzgerald noted, “2Q:12 results fell short of the Street and our even more conservative estimates as exceptionally bad luck in the current quarter comped up against exceptionally good luck in 2Q:11. That being said, nothing structural was evident in the quarter beyond the well-documented slowing growth in Macau and the sluggish recovery in Las Vegas. With attractive valuation, significant free cash flow potential, and future upside from Cotai, we continue to like the Wynn story.”
Wynn Resorts Limited closed on Tuesday at $97.36.
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