Today turned up aces in the river for casino giant Wynn Resorts (WYNN), as analysts came out in favor of the stock and some new potential opportunities in the United States emerged. This combination of factors gave Wynn some extra juice, and shares gained fractionally in Thursday morning’s trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Word from UBS analyst Robin Farley, who has a five-star rating on TipRanks, likes the ongoing narrative surrounding Wynn’s plans for the Al Marjan Island resort, a massive, 70-story tower set to open in early 2027. Between that, and an improving picture in Macau, things are looking good for Wynn.
Farley also pointed out, “We anticipate that WYNN being the only gaming operator in the UAE should provide a meaningful head start in capturing loyalty among ultra high net worth international customers.” All this together was sufficient for Farley to hike Wynn from Neutral to Buy, and also hike the price target from its previous $101 per share to $147.
Meanwhile, Closer to Home
The government in the state of Georgia has been considering the notion of allowing casinos into the state for the last seven years or so now, based on the latest reports. And there are some signs that that seven-year logjam could be coming to an end. Wynn is already looking to get a piece of that action, should the laws change, reports note.
Lawmakers are set to take another turn in January, reports note, and if both chambers let it through this time, the issue might ultimately make it to the November 2026 ballot. Naturally, major money is at stake. Wynn’s 2019 effort in Massachusetts has already meant $1 billion in gaming taxes, a point Georgia would likely enjoy seeing repeated.
Is Wynn Stock a Buy or Sell?
Turning to Wall Street, analysts have a Strong Buy consensus rating on WYNN stock based on 10 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 63.09% increase in its share price over the past year, the average WYNN price target of $126.10 per share implies 1.29% upside potential.
