Deutsche Bank sees favorable risk reward upside target of $170 for Wynn Resorts

On Friday Deutsche Bank issued a company update on Wynn Resorts, Limited

as the company continues to face pressure given Macau trends. Currently Deutsche Bank rates Wynn resorts as a Buy and set a price target of $170. Carlo Santarelli, an analyst at Deutsche Bank, wrote, "In the near term, with shares at current levels, we think the following serve as positive catalysts; a resolution to the proxy battle in late April; a lowered Consensus bar into / post 1Q15 earnings, and a resolution of the table allocation speculation ahead of the May Galaxy opening." On April 24, the proxy battle between the company and Mrs. Wynn will conclude with the naming of the two Board members from the current slate of three. As far as investors are concerned whether Mrs. Wynn is or isn't elected to the Board has no bearing on her ability to monetize her shares. While top line visibility in the Cotai project remains challenging, daily table revenue has averaged HKD ~650 million in March. Analysts believe the month could finish slightly better than expected thereby providing some near term view of stability. Wynn Resorts Limited closed Thursday at $126.86.