Wynn Resorts price target lowered to $130 from $132.50 at Citi

Citi lowered the firm’s price target on Wynn Resorts to $130 from $132.50 and keeps a Buy rating on the shares post the Q3 report. EBITDA from Wynn’s Macau operations was a miss, mainly attributable to the surprisingly low Mass hold rate at its Peninsula property and the lighter than expected retail revenues at both properties, the analyst tells investors in a research note. However, Wynn, like its peers in Macau, continues to see strength in its business heading into Q4, says the firm.