Deutsche Bank Raised Price Target on Wynn Resorts; Expects Turnaround (WYNN)

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Deutsche Bank raised its price target on Las Vegas resort company, Wynn Resorts, Limited ( WYNN ) on Friday.

Analysts at Deutsche Bank announced a raise on the price target for WYNN to $141. This target suggests a 16.3% increase from the previous target of $118. The firm predicts that Wynn Resorts will experience a greater demand for their Wynn Macau Las Vegas resort, and that may turn around the current decline. The expected increase would be a 19% increase from the current stock price on Friday of $114.18, and a 21.6% increase from the stock's YTD price of $110.49.

Wynn Resorts shares were up $2.06 or 1.83% during morning trading Friday. The stock has moved sideways for much of 2012.

The Bottom Line
Shares of Wynn Resorts ( WYNN ) have a 1.78% dividend yield, based on last night's closing stock price of $112.46. The stock has technical support in the $106-$110 price area. If the shares can firm up, we see overhead resistance around the $120-$121 price levels.

Wynn Resorts, Limited ( WYNN ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: WYNN

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