Wells Fargo Analyst Calls Wynn Resorts A Top Pick, Raises Price Target Amid Clear Path To Upward Estimate Revisions - Wynn Resorts (NASDAQ:WYNN)

Wells Fargo analyst Daniel Politzer maintained an Overweight rating on Wynn Resorts, Limited WYNN, raising the price target to $134 from $128.
Politzer considers Wynn Resorts a top pick, with a "clear path to upward estimate revisions."
Macau is recovering, with the company maintaining its share, with chances of returning to FY19 EBITDA levels.
The company's Macau operations are worth $58/share, while the U.S. operations imply an equity value of $75/share,
However, increased competition within Macau, particularly from newly opened integrated resorts such as Grand Lisboa Palace or Londoner Macao, may hurt Wynn Resorts.
The analyst is also concerned about a slowdown in U.S. consumer spend, which could adversely impact the company's Las Vegas and Boston operations.
Price Action: WYNN shares traded higher by 4.25% at $110.57 on the last check Thursday.