Wynn Resorts price target raised to $138 from $117 at Credit Suisse

Credit Suisse analyst Benjamin Chaiken raised the firm’s price target on Wynn Resorts to $138 from $117 and keeps an Outperform rating on the shares following quarterly results. The firm highlights that Wynn reported Q4 Vegas EBITDA of $219M compared to its $202M and Street’s $186M. Boston results were better-than-expected, generating EBITDA of $63M versus Credit Suisse’s $59M, and management noted trends are continuing, with EBITDA per day in Q1 consistent with trends seen in the past few quarters. Wynn Interactive reported EBITDA loss of $28M but adjusting for the payout on the World Series bet, management noted burn rate was roughly flat with Q3, the firm adds.