JPMorgan sees value in Wynn with shares back to 2006 levels

JPMorgan says the share price of Wynn Resorts is back to March 2006 levels. In the mid-$70s, the stock represents a good risk/reward, with a value that reflects “reasonably low to fair” value for Wynn’s Las Vegas and Encore Boston Harbor asset values and “hardly any value” for its Macau property cash flow, the analyst tells investors in a research note. The firm sees not much priced into the shares for the company’s Macau or United Arab Emirates properties. It keeps an Overweight rating on Wynn Resorts with a $101 price target.