Wynn Resorts Ltd
WYNN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$933.00 | Zwnpt | Vhtkmgzxf |
Wynn Earnings: Macao Sales Continue to Recover While Vegas Demand Remains at All-Time Levels
Narrow-moat Wynn’s first-quarter results echoed peer reports from narrow-moat Las Vegas Sands and no-moat MGM and Caesars, pointing to strong recovery demand in Macao after the removal of covid-19 restrictions early last year and resilient travel to Las Vegas. We don’t plan meaningful changes to our $122 fair value estimate, leaving shares undervalued.