Casino/resort operator Wynn Resorts, Limited (WYNN) on Wednesday caught a big upgrade from analysts at Goldman Sachs.
The firm said it boosted its rating on WYNN from “Neutral” to “Buy” with a $136 price target. That target suggests a 33% upside to the stock’s Tuesday closing price of $104.61.
A Goldman analyst commented, “We believe the stock price reflects most of the risks currently associated with the company, but does not reflect the potential upside to this premier US/Asian casino story.”
Wynn Resorts shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of Wynn Resorts (WYNN) have a 1.91% dividend yield, based on last night’s closing stock price of $104.61. The stock has technical support in the $97-$100 price area. If the shares can firm up, we see overhead resistance around the $110-$112 price levels.
Wynn Resorts, Limited (WYNN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.