JP Moran Analyst Downgrades Wynn Resorts, Limited (WYNN) Stocks from Overweight to Neutral

JP Morgan analyst Joseph Greff weighed in on Wynn Resorts, Limited (NASDAQ:WYNN), downgrading the stock from Overweight to Neural and lowering his price target from $101 to $94.

The analyst believes that stock is fairly valued and offers an even Risk/Reward due to its early oversold levels in the first half of 2016.

He further estimates that the luxury integrated resorts will produce a combined EBITDA totaling $192 million in Q3 and $242 million in Q4.

Moreover, the analyst reckons that the company will see an increase in its earning per share in the next five years and thus, long-term investors may resist change stating that, “there probably will be share price volatility over new capacity absorption.”

According to TipRanks, Greff has a 57% success rate recommending stocks with an average annual return of 10.5% per recommendation.

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