Wynn Resorts price target lowered to $125 from $135 at Stifel

Stifel lowered the firm’s price target on Wynn Resorts to $125 from $135 and keeps a Buy rating on the shares. While Wynn shares traded off after the company’s Q3 report, the firm is “not sure we really understand the potential negative reaction” as Vegas, even adjusting for hold, was much better than Stifel was expecting and Macau was in-line, the analyst tells investors. If investors poke holes in the Macau margins, the firm says it believes the margin headwinds are more related to non-gaming investments, which should be short-lived and it would be “aggressive buyers” of Wynn shares on a post-earnings selloff.