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WYNN

Wynn Resorts

$163.22

-2.26 (-1.37%)

08:28
02/07/18
02/07
08:28
02/07/18
08:28

JPMorgan upgrades Wynn Resorts to Overweight on reduced regulatory risk

JPMorgan analyst Joseph Greff upgraded Wynn Resorts to Overweight from Neutral while lowering his price target for the shares to $196 from $200. The analyst sees a more favorable risk/reward profile following the resignation of Steve Wynn. The separation reduces Wynn Resorts' negative regulatory risk outcomes "meaningfully," Greff tells investors in a research note. The analyst thinks Steve Wynn's current 11.8% stake is something for investors to consider. He believes Wynn will look to unwind his stake in an "orderly fashion" and likely to parties that ultimately can be beneficial to the equity value.

WYNN Wynn Resorts
$163.22

-2.26 (-1.37%)

02/07/18
DBAB
02/07/18
NO CHANGE
Target $199
DBAB
Buy
Wynn resignation removes 'most negative scenarios,' says Deutsche Bank
Deutsche Bank analyst Carlo Santarelli says that while not entirely surprising, news of Steve Wynn's resignation "certainly comes with an element of shock," which could weigh on shares of Wynn Resorts this morning. The analyst, however, believes the market has anticipated the news. As such, he thinks "most negative scenarios" for the company are removed from the table with the announcement. Further, Santarelli thinks some investors will question the potential for a broader strategic action following Wynn's resignation. The analyst keeps a Buy rating on the shares with a $199 price target.
02/07/18
JPMS
02/07/18
UPGRADE
JPMS
Overweight
Wynn Resorts upgraded to Overweight from Neutral at JPMorgan
02/07/18
JEFF
02/07/18
NO CHANGE
Target $181
JEFF
Buy
Jefferies cuts Wynn target, but sees two possible positive outcomes
Jefferies analyst David Katz lowered his price target for Wynn Resort to $181 from $220 following the resignation of CEO Steve Wynn. In a research note titled "Elvis Has Left the Building," the analyst, however, keeps a Buy rating on the shares. While the immediate impact to shares could be volatile on Wynn's resignation, the resolution has two outcomes "with limited downside and solid upside." The first, according to the analyst, has Wynn continuing to perform given its "best-in-class assets positioned in premium markets." The second possible outcome is Wynn receives prospective interest from potential acquirers, Katz writes.
02/07/18
MSCO
02/07/18
NO CHANGE
MSCO
Overweight
Morgan Stanley says Wynn resignation starts to remove overhang on stock
Morgan Stanley analyst Thomas Allen noted that the majority of conversations about Wynn Resorts that he'd had recently had been around the risk of the company losing gaming licenses because of Steve Wynn's alleged misconduct. Though Steve Wynn's resignation removes the founder and "driving force" behind the company, Allen also sees it as a first step towards mitigating the license loss risk and the beginning of removing the overhang that has been on the shares. The analyst, who does not believe there is a plan in place for Wynn to sell any of his roughly 12% stake at this point, keeps an Overweight rating on Wynn Resorts shares, which are up 9% to $178.06 in pre-market trading.

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