Market Overview

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

Related WYNN
What Has Happened To Macau?
Markets Unable To Hold On To Gains As Oil Continues To Plunge
Wynn Shares Rally as Macau Sales Grow (Fox Business)

In a report published Friday, Deutsche Bank reiterated its Buy rating on Wynn Resorts (NASDAQ: WYNN), and raised its price target from $144.00 to $146.00.

Deutsche Bank noted, “Tonight, after market close, WYNN reported largely in line results with hold aided strength in Las Vegas ($115 mm versus our $94 mm) providing upside to our aggregate property level forecast and slightly lower Macau margins creating a $4 mm shortfall from our Wynn Macau forecast ($287 mm versus our $283 mm). In total property level EBITDA was $398.5 mm, ~$18 mm ahead of our forecast. We calculate the hold benefit on the table side in LV to be ~$10 mm, thus, results were roughly $8 mm better on an adjusted basis. Maintain Buy.”

Wynn Resorts closed on Thursday at $125.22.

Latest Ratings for WYNN

DateFirmActionFromTo
Oct 2014Bank of AmericaDowngradesBuyNeutral
Sep 2014Bank of AmericaMaintainsBuy
Sep 2014Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for WYNN
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (WYNN)

Around the Web, We're Loving...

Get Benzinga's Newsletters