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Fly News Breaks for January 7, 2016
WYNN
Jan 7, 2016 | 10:20 EDT
CLSA analyst Jon Oh said he views Wynn Resorts as an " ideal takeover candidate," noting its relative underperformance compared to its sector last year and the fact that its capex is set to substantially tail off and its EBITDA to pick up with the coming opening of the Wynn Palace in Macau. Genting would be the most ideal potential buyer for Wynn, Oh tells investors in a research note. The analyst lowered his price target on Wynn shares to $88 from $104, citing his lowered EBITDA estimates, but keep a Buy rating on the stock.
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