Wynn Resorts’ New York Casino Bid Could Act As A Positive Catalyst: Analyst

Wynn Resorts, Limited (NASDAQ:WYNN) shares are trading higher on Friday.

Morgan Stanley analyst Stephen W Grambling upgraded the company to Overweight (from Equal-Weight) and raised the price target to $104 (from $97).

Wynn Las Vegas is well-positioned to benefit from a shift toward higher-end clientele, bolstered by new attractions and greater reinvestment compared to peers, Grambling said.

Grambling expects Wynn’s strategic investments, proximity to new attractions, and high-end branding to result in stronger fundamentals than the market.

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