Wynn Resorts, Limited WYNN has captured investors’ attention during the gambling industry’s resurgence post-COVID-19 pandemic.
Mizuho Securities suggests that the company possesses untapped potential in terms of market share and EBITDA margins.
Analyzing Wynn Resorts: Ben Chaiken, an analyst at Mizuho Securities, recently commenced coverage of Wynn Resorts, offering a Buy recommendation accompanied by a price target of $131.
Insights on Wynn Resorts: In the initiation report, Chaiken highlighted the optimistic outlook for market share and EBITDA margin estimations in Macau. As market conditions improve and the company’s assets, particularly the Peninsula property, demonstrate enhanced operational efficiency, the projected indicators appear promising.
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Despite the growth in Wynn’s ADR (average daily rate) in Las Vegas surpassing pre-pandemic levels, there is potential for sustained expansion, noted the analyst. Chaiken further remarked, “We anticipate Wynn to maintain an approximate 20% edge/premium on rate relative to the industry owing to the additional demand stemming from a burgeoning corporate/group presence.”
Furthermore, Tong emphasized, “Wynn’s sole ownership of its land assets (excluding Boston) distinguishes it from competitors and offers future strategic advantages.”
WYNN Stock Movement: By the time of publication on Thursday, Wynn Resorts stocks had surged by 2.58% to reach $109.17.
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