Shares of Wynn Resorts (WYNN) are up nearly 6% in early trading after UBS upgraded the casino company to a buy from a neutral.
The analyst likes the company’s liquidity standpoint with no debt due this year, and the company stands to gain from fewer casino openings in Macau between 2010 and 2012.
The Bottom Line
Shares of WYNN have bounced nearly 100% in the last four weeks, but are still way off of all-time highs of $164 hit in October of 2007. The company has overhead resistance in the $33-36 price area. We would look for the $23-25 price zone on any pullbacks. We do not currently rate this non-dividend stock, but we do watch the shares closely.
The Bottom Line
Shares of Wynn Resorts (WYNN) do not currently pay a dividend.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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