Jefferies analyst David Katz recommends buying shares of Wynn Resorts on any weakness following news that Steve Wynn formally dropped his contest of Elaine Wynn's suit arguing that their 2010 shareholder agreement is invalid. Although a judicial ruling remains to resolve the matter of control over Elaine Wynn's stock, and liquidity is likely her primary objective, the "potential outcomes are many and include valuation upside from present levels," Katz tells investors in a research note. The analyst believes Wynn has the resources to repurchase the shares and feels that ultimately, the company's "trophy-level assets" and licenses should drive upside from present levels. He keeps a Buy rating on Wynn Resorts with a $181 price target.