Wynn more than doubled<\/a> off the March lows. But the stock is down 9.44 percent over the past month, as market participants fret that a spike in COVID-19 cases in the US will keep gamblers and tourists away from the operators two Las Vegas Venues — Wynn and Encore. The operator’s other US property, Encore Boston Harbor, reopened a few days ago.<\/p>\nHowever, Macau is by far Wynn’s most important market, generating two-thirds or more of the company’s revenue and earnings before interest, taxes, depreciation and amortizations (EBITDA) in any given quarter.<\/p>\n
Analysts are mostly bullish on the name, with 13 of the 20 covering the stock rating it the equivalent of \u201cbuy\u201d or \u201cstrong buy.\u201d The consensus sell-side price target on Wynn is around $94. The stock trades near $80 at this writing.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Wynn Resorts (NASDAQ:WYNN) is primed to benefit as Macau’s gaming sector rebounds, particularly given the increased likelihood that the recovery will be hastened by higher-end gamblers, notes an analyst. Shares of the Wynn Macau and the Wynn Palace operator are trading lower Tuesday. But the stock surged nearly 10 percent on heavy volume Monday on […]<\/p>\n","protected":false},"author":46,"featured_media":141658,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Wynn Resorts Is One Name That Could Lead Macau Equities<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n