Wynn Resorts rallies after liquidity update

• JPMorgan keeps an Overweight rating on Wynn Resorts (WYNN +4.9%) after taking in the casino company's liquidity report and update on expected Q1 results (revenue -43% Y/Y).
• The firm notes Wynn has ~$3.0B in liquidity at present, which gives it about 1.4 years of property opex/cash interest expense burn.
• Shares of Wynn are up solidly today, but haven't traded over $70 since March 26 and over $100 since March 4.