May 30, 2012 at 08:40 AM EDT
Wynn Resorts Upgraded to “Buy” at Goldman Sachs (WYNN)

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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