As previously reported, Argus downgraded Wynn Resorts (WYNN) to Hold from Buy ahead of the company reporting Q1 earnings on May 6. The firm now values Wynn at a lower-than-usual multiple due to the impact of tariff wars on the results of the company’s hotel and casinos and a slow recovery in Macau. The firm, which projects a slow recovery in Macau and “slight growth” at the company’s U.S. hotels and casinos, lowered its 2025 EPS estimate to $5.25 from $5.80 and cut its 2026 EPS estimate to $5.80 from $6.10 per share.
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