Wynn Resorts price target raised to $128 from $125 at Wells Fargo
Wells Fargo raised the firm's price target on Wynn Resorts to $128 from $125 and keeps an Overweight rating on the shares. The firm notes Q1 EBITDA was 7% above its/Street's estimates, reflecting favorable hold, strong demand trends, and impressive opex control. Macau Q2 commentary was encouraging, Las Vegas is stable, and EBH capex is tabled, for now, adds Wells.