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Fly News Breaks for April 25, 2019
WYNN
Apr 25, 2019 | 06:42 EDT
As previously reported, BofA/Merrill upgraded Wynn Resorts to Buy from Neutral and trimmed its price target to $150 from $165. Analyst Shaun Kelley names three catalysts for the upgrade, they are a flattening out of China macro data and easing policies that will improve second half 2019 Macau gross gaming revenue growth, the June opening of Encore Boston and resulting EBITDA growth, and reduced capex resulting in potential accelerating capital returns or M&A in late fall/early 2020.
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