UPDATE: FBR Capital Markets Initiates Coverage on Wynn Resorts on Limited Near-Term Growth Prospects

In a report published Wednesday, FBR Capital Markets analyst Jake Fuller initiated coverage on

with a Market Perform rating and $175.00 price target. In the report, FBR Capital Markets noted, “We are initiating coverage of Wynn Resorts, Limited (WYNN) with a Market Perform rating and a $175 price target. While the company is a marquee operator with a great balance sheet, free cash flow profile, and capital return story, we struggle with relatively modest near-term growth prospects and a high relative valuation.” Wynn Resorts Limited closed on Tuesday at $167.38.