April 29, 2013 at 09:25 AM EDT
Morgan Stanley Boosts Price Target, Estimates on Wynn Resorts (WYNN)

Wynn Resorts Ltd. (WYNN) had its earnings estimates and price target raised by analysts at Morgan Stanley on Monday. The analysts are optimistic that the casino resort operator’s Macau properties will help drive growth.

Furthermore, the analysts note that Wynn is cutting costs at its Las Vegas properties. As such, the analysts now see shares of WYNN reaching $140, while maintaining its “Equal Weight” rating. The new price target suggests a 3% upside to Friday’s closing price of $135.50.

Wynn shares were down a fraction during pre-market trading on Monday. The stock is up +14.76% year-to-date.

The Bottom Line
Shares of Wynn Resorts (WYNN) have a dividend yield of 2.95% based on Friday’s closing price of $135.50 and the company’s annualized dividend payout of $4.00 per share.

Wynn Resorts Ltd. (WYNN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

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