{
  "id": 18502679,
  "title": "Stifel cuts Wynn Resorts stock price target on Strip concerns",
  "url": "https://urgent.news/2026/11/06/stifel-cuts-wynn-resorts-stock-price-target-on-strip-concerns",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T13:08:53.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/stifel-cuts-wynn-resorts-stock-price-target-on-strip-concerns-93CH-5007968"
  },
  "original_language": "en",
  "account": "Stifel has decreased its price target on Wynn Resorts (NASDAQ:WYNN) shares from $120 to $110, while still maintaining a positive Buy rating. The stock is currently trading at $79.32, marking a significant decline of 34% over the past year and 26% in the last six months. Stifel attributes this downward trend to underwhelming third-quarter 2026 results, which fell short of expectations even after accounting for hold adjustments. However, the firm believes the company's outlook regarding an October rebound is the most crucial takeaway. The Las Vegas Strip is now expected to be shaped by event, group, and convention schedules, with summer months returning to normal levels, the analyst explained. Despite the challenges, Stifel remains bullish on Wynn's premium focus in Las Vegas, deeming it undervalued. This perspective is supported by InvestingPro, which considers the stock undervalued based on its Fair Value assessment. The company's UAE project remains on schedule for a September 2027 opening, and Stifel asserts that the UAE project and Macau assets are grossly undervalued or underappreciated. Wynn Resorts recently disclosed disappointing third-quarter 2026 financial results, with earnings per share of $0.33, compared to analysts' expectations of $0.72. The company also underperformed in revenue, reporting $1.69 billion against the estimated $1.78 billion. The declines were primarily due to unfavorable gaming hold situations in Las Vegas, a labor strike in Boston, and weaker conditions in Macau. Adjusted property EBITDA for the quarter was $464.2 million, with contributions from all three regions, although each faced unique obstacles. In response to the disappointing earnings, Goldman Sachs lowered its price target for Wynn Resorts to $93.00, while keeping a Buy rating. Despite the challenges, Wynn's Las Vegas operations demonstrated resilience, with higher room rates and revenue per available room, although impacted by a $24 million gaming hold headwind. In Boston, the company faced a strike involving 1,300 workers, but management reported reaching a labor agreement framework. Macau remained a key profit center, generating $255.3 million in adjusted property EBITDA, with September described as a softer month. Management highlighted the upcoming Wynn Al Marjan Island resort in the UAE, slated for a September 2027 opening, as a significant long-term growth opportunity.",
  "summary": null,
  "key_points": [
    "Stifel lowers Wynn Resorts target price to $110 from $120",
    "Stock down 34% year-to-date, 26% in six months",
    "Q3 2026 results missed expectations despite summer rebound outlook"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}