ANALYST: WYNN Resorts downgraded by Morgan Stanley amid concerns over Macau's market growth

In a report issued on Monday covering the Gaming & Lodging Industry Morgan Stanley downgraded Wynn Resorts, Limited

from Overweight to Equal Weight amid concerns over the Macau Market. Morgan Stanley also lowered Wynn Resorts' price target from $185 to $145. Analysts Thomas Allen, Mark Savino and Praveen Choudhary wrote, "While WYNN continues to present an attractive multi-year story with its Cotai property opening mid-'16, the Macau market continues to surprise to the downside with further negative catalysts potentially ahead that make long-term investing difficult...WYNN is best positioned to benefit from the supply wave coming to Macau, but near-term risks and limited visibility move us to Equal-Weight." The analysts at Morgan Stanley said that Wynn Resorts is an attractive option because of their attractive dividend and low leverage, which makes investing in the company less risky. Some value drivers for the hotel and casino chain include the Wynn Palace opening in Cotai and expected long term Macau market growth. However in the short term Macau's high end market growth is expected to continue to be adversely impacted by China's anti-corruption efforts and the prospects of a full smoking ban that could present incremental challenges. Wynn Resorts, Limited closed Friday at $127.07.