Argus lifts Wynn Resorts (NASDAQ:WYNN) to a Buy rating after having the casino operator set at Hold.
"Despite stiff competition, results at the Wynn Palace in Macau, which opened in August 2016, have shown consistent improvement, with occupancy and room rates both rising in the fourth quarter," writes analyst John Staszak.
He also thinks positive trends in Las Vegas will help to boost earnings growth.
The investment firm assigns a price target of $135 to the stock off of estimates for 2017 EPS of $4.30 and 2018 EPS of $5.00.
Sources: Bloomberg and Benzinga
WYNN +1.29% premarket to $118.25.