Jefferies believes that Wynn Resort is in good shape due to its stable core business and development pipeline. Analyst David Katz upgraded the casino and bought stock from Hold. He also raised his target from $105 to $118, meaning there is a 33% upside potential from Friday’s end. After the rating changes, the stock is slightly higher. According to Katz, Wynn Al Marjan Island, which is being built in the United Arab Emirates, is one of the upcoming stock active catalysts. The development will become the first casino in the UAE. Analysts wrote in a note on Monday that Wynn 5D Mountain Wynn 5-day chart “The street confidence in Al Marjan Island is growing.” “The key issue surrounding Al Marjan Island is the opening and implementation of the property. However, the concerns are being declined given Wynn’s casino license for the property, and the construction is underway as planned.” In addition, the Wynn Resort is expected to see Another headwind in the Macau market. The company is recognized on the basis of stable VIP and advanced consumer in Macau, which grew 23% for EBITDAR last year. “We expect macro and market stability in 2025,” Katz said. The upgrade comes after a 10.4% surge in fourth-quarter results on Wynn Resort stock, surpassing consensus estimates. The company reported more than expected net income in Macau and Las Vegas. To be sure, the stock has still fallen by 15.5% over the past 12 months. Most analysts are optimistic about Wynn Resorts. According to LSEG, 16 of the 19 covering casino and resort operators have a buy or strong buy rating. The average analyst price target also marks more than 26% ahead.
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