Market Overview

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

Share:
Related WYNN
Short Sellers Gamble With Gaming ETF's Holdings
CLSA Was Impressed By Wynn's Palace Opening, But Positives Are Priced In

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
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!