BUZZ-Argus lowers Wynn's PT on weak US markets

Reuters
02/18
BUZZ-Argus lowers <a href="https://laohu8.com/S/01128">Wynn</a>'s PT on weak US markets

** Argus lowers casino operator Wynn Resorts WYNN.O price target, citing weakness in U.S. markets

** PT at $135 from $150 earlier; maintains "buy" rating

** New price target represents 18% upside on stock's last close

** Brokerage says WYNN competes against the much larger Las Vegas Sands in both Macau and Las Vegas, which could lead to lower margins and loss of market share

** On Feb 12, co missed its Q4 adjusted profit estimates on weaker performance in its Las Vegas business and other regional properties

** However, brokerage says it expects WYNN's new casino/resort in the UAE, the first of its kind there, to be highly profitable

** As of last close, shares down about 4.9% YTD

(Reporting by Parth Chandna)

((Parth.Chandna@thomsonreuters.com;))

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