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Fly News Breaks for December 9, 2015
WYNN
Dec 9, 2015 | 06:45 EDT
Deutsche Bank analyst Carlo Santarelli says concerns remain following Wynn Resorts CEO Steve Wynn acquiring 1M shares through open market purchases over the last three trading days. Macau visibility remains low, and the market is likely to remain challenged, Santarelli tells investors in a research note. He believes the insider purchase is "good to see" and likely indicates that Mr. Wynn viewed the current valuation as inexpensive. The analyst keeps a Buy rating on Wynn with an $82 price target.
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