UPDATE: Deutsche Bank Reiterates on Wynn Resorts Limited as Macau Gaming Stocks Are on Pause

In a report published Wednesday, Deutsche Bank analyst Carlo Santarelli reiterated a Buy rating on

, but lowered the price target from $195.00 to $191.00. In the report, Deutsche Bank noted, “With the Macau gaming stocks taking a bit of a pause post; 1) strong October Macau results, 2) in line to slightly better than expected 3Q13 reports, & 3) some capital return catalysts, we felt it was an appropriate time to examine what's implied in WYNN & LVS here. In short, we believe current levels are advantageous as the near term sequential Macau GGR deceleration opens the door to better entry points for bigger picture stories that we believe continue to evolve and play out. While valuation from an EV/EBITDA perspective is neither cheap nor lofty, we believe using a broader valuation metric approach continues to make both appealing for the near and longer term.” Wynn Resorts Limited closed on Tuesday at $159.20.