S&P Capital IQ Reiterates its BUY Rating on Wynn Resorts, Target Price Reduced

October 21 00:00 2011

New York, October 21 (RainbowNewsLine.com) – Analyst Esther Kwon of S&P Capital IQ reiterates his BUY rating on the shares of Wynn Resorts (NASDAQ: WYNN), while raising her estimates for the company. The target price has been reduced to $154 from $189.

Analyst Esther Kwon, in a research note published yesterday mentions that the company reported its Q3 EPS ahead of the estimates and marginally short of the consensus, supported by Macau operations. Wynn Resorts is well positioned to gain room rates in Vegas during 2012 due to limited supply growth, the analyst says. The EPS estimate for 2011 has been raised from $5.20 to $5.42. The target price is reduced on lower peer EV/EBITDA multiples, the analyst adds.

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