BUZZ-Stifel raises Wynn's PT on UAE growth prospects, limited competition

Reuters12-08
BUZZ-<a href="https://laohu8.com/S/SFB">Stifel</a> raises <a href="https://laohu8.com/S/01128">Wynn</a>'s PT on UAE growth prospects, limited competition

** Stifel raises price target on casino operator Wynn Resorts WYNN.O to $160 from $150; maintains "buy" rating

** New PT a 27.5% upside to the stock's last close

** Stifel expects no new gaming competition for Wynn’s integrated casino resort in the UAE, no significant gaming developments in the market until 2032

** "There is no better gaming operator to be invested in at this point given their diversified operating model (LV, Macau, UAE, Boston, London) and growth opportunities." - Stifel

** With tourism in Ras Al Khaimah expanding rapidly, it’s clear that hotel supply won’t be able to keep pace with demand, says brokerage

** Stifel adds, WYNN has ~60 acres of undeveloped land at their property site which could be used to build additional room supply

** Median PT of 20 brokerages covering the stock is $142.5 - data compiled by LSEG

** As of last close, shares up 45.7% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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