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Investing.com - Goldman Sachs initiated coverage on Wynn Resorts (NASDAQ:WYNN) with a Buy rating and a price target of $122.00 on Monday. The stock, currently trading at $105.63 and commanding a market cap of $10.94 billion, has shown impressive momentum with a 29% gain over the past six months according to InvestingPro data.
The investment bank cited Wynn’s "best in class assets" and favorable demographic exposure as key factors behind its positive outlook for the casino operator.
Goldman Sachs highlighted "solid 2027 tailwinds" in its analysis, particularly focusing on the upcoming launch of the Wynn Al Marjan resort project scheduled for 2027.
The firm described Wynn Resorts as "the most catalyst-driven stock" among its coverage universe, suggesting the Al Marjan project represents a significant growth opportunity.
Goldman Sachs indicated that "patient investors will be rewarded" with "meaningful upside" potential in Wynn’s stock price from current levels.
In other recent news, Wynn Resorts has reported several notable developments. The company disclosed that its subsidiary, Wynn Resorts Finance, LLC, has amended its existing credit agreement, extending the maturity date and adding $500 million in revolving commitments. This strategic restructuring aims to enhance Wynn Resorts’ financial flexibility. On the earnings front, Citi analyst George Choi highlighted Wynn Las Vegas’s performance, noting a 4% year-over-year increase in casino revenues for the first quarter of 2025, despite challenges such as the Super Bowl.
In terms of analyst ratings, JPMorgan initiated coverage of Wynn Resorts with an overweight rating and a price target of $109, reflecting confidence in the company’s ability to return capital to shareholders. Stifel adjusted its price target for Wynn Resorts to $113, maintaining a Buy rating while acknowledging challenges in Macau. Meanwhile, BofA Securities upgraded Wynn Resorts’ stock rating to Buy, raising the price target to $100, driven by optimism about the upcoming Wynn Al Marjan Island project in the UAE.
Citi also raised its price target to $101, citing robust business volumes and increased revenue metrics. These recent developments underscore Wynn Resorts’ strategic initiatives and the varied perspectives of analysts regarding its future prospects.
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