Shares of Wynn Resorts (NASDAQ:WYNN) jumped today, which can be attributed to analyst praise ahead of earnings. Daniel Politzer of Wells Fargo (NYSE:WFC) reiterated his Buy rating while assigning a price target of $134 per share. For reference, his previous price target was $128.
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Politzer believes that stocks of companies that operate in the Macau region are positioned to see strong returns going forward. This is thanks to the increased tourism seen following the easing of lockdown restrictions in China. As a result, Wynn is the top pick for the Wells Fargo analysts.
Overall, Wall Street analysts have a consensus price target of $122.70 on WYNN stock, implying 11.65% upside potential, as indicated by the graphic above.
