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Wynn Resorts’ Price Target Raised at Macquarie

Wynn Resorts’ Price Target Raised at Macquarie Feb. 9, 2024, 8:55 a.m., readers: 27

Macquarie analysts increased their price target for Wynn Resorts (NASDAQ:WYNN) to $128.00, up from $122.00, while reiterating an Outperform rating on the stock. Macquarie’s analysis suggests a positive outlook for Wynn, particularly in Macau, where they believe the consensus forecasts remain overly cautious. The analysts anticipate Wynn Resorts will continue to expand its market share, especially as the recovery progresses beyond the base mass segment. With the stock's multiples around 9x the estimated earnings for 2024 ahead of the earnings release, the analysts argue that Wynn Resorts presents the most significant potential for estimates and stock price appreciation among major gaming companies. Furthermore, they highlighted the additional value in Wynn's underappreciated assets, estimating over $10 in value from Al Marjan Island ($6), WynnBet ($2), and a 38-acre parcel in Las Vegas ($4).

About NASDAQ: WYNN

W ynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets;

Price: 88.46
Market cap: 9.9 billion USD
Eps: 7.64
P/e ratio: 11.58
Focus Analysis On: WYNN