Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Wynn Resorts

Share:
Related WYNN
CLSA Was Impressed By Wynn's Palace Opening, But Positives Are Priced In
The 'Flash Boys' Stock Exchange Goes Online: Why Individual Investors And High-Frequency Traders Should Care
The Wynn Palace era begins (Seeking Alpha)

In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Wynn Resorts Limited (NASDAQ: WYNN), but lowered its price target from $144.00 to $118.00.

Deutsche Bank noted, “We continue to find valuation appealing (11.3x 2013 EBITDA and 8.9% 2013 FCF yield), but recognize a lack of catalysts, and more importantly, a murky China/Macau environment, makes new money investments difficult at current levels. We found the Macau results and color from the call to be a largely negative read across for market participants in general, though acknowledge that competition ratcheting up is and has been widely known. On the other hand, we were encouraged by the underlying trends at Wynn LV and see a positive read through for MGM given rate driven RevPAR results and table/slot drop/handle growth at Wynn Las Vegas.”

Wynn Resorts Limited closed on Tuesday at $97.36.

Latest Ratings for WYNN

DateFirmActionFromTo
Jul 2016JP MorganMaintainsNeutral
Jul 2016CLSADowngradesOutperformUnderperform
Jul 2016NomuraDowngradesNeutralReduce

View More Analyst Ratings for WYNN
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (WYNN)

View Comments and Join the Discussion!