Short Term Price Target on Wynn Resorts Limited (WYNN)

Wynn Resorts Limited (NASDAQ:WYNN) : 11 investment research analysts covering Wynn Resorts Limited (NASDAQ:WYNN) have an average price target of $97.36 for the near short term. The highest target price given by the Brokerage Firm to the stock is $119 and the lowest target is $65 for the short term. Analysts expect the variance to be within $14.69 of the average price.

Wynn Resorts Ltd. has lost 10.88% in the last five trading days and dropped 6.3% in the last 4 weeks. Wynn Resorts Ltd. has dropped 3.81% during the last 3-month period . Year-to-Date the stock performance stands at 32.55%. Also, Equity Analysts at the Brokerage Firm, CLSA, downgrades their rating on the shares of Wynn Resorts Limited (NASDAQ:WYNN). CLSA has a Outperform rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $97 per share from a prior target of $88. The rating by the firm was issued on April 29, 2016.

Wynn Resorts Limited (NASDAQ:WYNN) : 13 analysts are covering Wynn Resorts Limited (NASDAQ:WYNN) and their average rating on the stock is 2.5, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Wynn Resorts Limited (NASDAQ:WYNN) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Wynn Resorts Limited (NASDAQ:WYNN): The stock opened at $91.44 on Thursday but the bulls could not build on the opening and the stock topped out at $92.00 for the day. The stock traded down to $89.15 during the day, due to lack of any buying support eventually closed down at $90.64 with a loss of -0.70% for the day. The stock had closed at $91.28 on the previous day. The total traded volume was 2,580,703 shares.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CEO of Wynn Resorts Ltd, Wynn Family Limited Partnershi, had purchased 258,523 shares in a transaction dated on February 8, 2016. The transaction was executed at $58.48 per share with total amount equaling $15,118,425.

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which integrate accommodations and amenities, including fine dining, premium retail offerings, distinctive entertainment and convention facilities. The Company owns 72% of Wynn Macau, Limited, which operates an integrated resort in the Macau Special Administrative Region of the Peoples Republic of China (Macau). Wynn Resorts also owns 100% of and operates an integrated resort in Las Vegas, Nevada. The company operates through two segments: Macau Operations, which includes Wynn Macau and Encore at Wynn Maca, and Las Vegas Operations, which includes Wynn Las Vegas and Encore at Wynn Las Vegas. Its Macau Operations features approximately 284,000 square feet of casino space with 498 table games and 625 slot machines, two hotel towers and others. Its Las Vegas Operations features approximately 186,000 square feet of casino space with 232 table games, 1,849 slot machines, two hotel towers and others.

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