Wynn Resorts Gets Price Target Boost from Barclays Analyst

Barclays's Brandt Montour raised their price target on Wynn Resorts (NASDAQ: WYNN) by 5.1% from $117 to $123 on 2024/04/10. The analyst maintained their Strong Buy rating on the stock.

According to Montour, this price target adjustment is part of a pre-Q1-2024 preview of names in their Gaming, Lodging & Leisure portfolio. Montour expressed confidence in the Macau operators, stating that they should deliver solid results. This optimism is based on the strong gaming trends observed in March 2024 and a recent increase in Mainland flight capacity.

In addition to the price target raise, Montour also highlighted that 80% of top-rated analysts currently rate Wynn Resorts as a Strong Buy or Buy. Only 20% of analysts see it as a Hold, and no analysts recommend or strongly recommend selling the stock.

Regarding the recent performance of Wynn Resorts, the stock price has increased by 14.4% since its last quarterly report on December 31, 2023. However, it is worth noting that the stock is down 5.2% year-over-year. During this period, Wynn Resorts has been trailing behind the S&P 500, which has experienced a significant decline of 25.6%.

Brandt Montour, an analyst at Barclays, has established themselves as a reputable figure in the financial industry. WallStreetZen ranks Montour in the top 11% out of 4,540 Wall Street analysts. With an average return of 10.4% and a 47.5% win rate, Montour specializes in sectors such as Consumer Cyclical and Technology.

Wynn Resorts, Limited, the subject of Montour's analysis, is a company that designs, develops, and operates integrated resorts. The company's segments include Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. These segments encompass various casino spaces, hotel towers, food and beverage outlets, retail spaces, meeting and convention spaces, and other attractions.

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