Deutsche Bank Says Wynn Resort's Challenging Quarter Marks 'Inflection Point'

Deutsche Bank analyst Carlo Santarelli believes that Wynn Resorts, Limited’s WYNN previous quarter marks an inflection point at Wynn Macau, where renovations will no longer disrupt business.

Specifically on Wynn’s report, Santarelli does not believe that the Cotai delay was surprising, though it does force the analyst to lower 2016 EBITDA, resulting in a lower price target on the stock as well.

Santarelli reiterated Deutsche Bank’s Buy rating with a new price target of $176, compared with $180 previously.

In pre-market trading, Wynn was giving up all 4 percent of the gains it saw on Tuesday.