BUZZ-Wynn Resorts rises after Jefferies upgrade to 'buy'

Shares of casino operator Wynn Resorts WYNN.O up 1.42% at $90 in premarket trade

Brokerage Jefferies raises WYNN stock rating to "buy" from "hold" in a note dated February 17

Says "the development of Al Marjan Island (in UAE) and exposure to stable premium consumers as Macau recovers should be positive catalysts for shares"

Raises PT to $118 from $105, implying a 32.9% upside to stock's last close

Says "setup for WYNN is positive on the opening of its new project in early 2027 and the productivity of its current portfolio"

WYNN beat analysts' estimates for fourth-quarter profit and revenue, last week on Thursday, driven by strong business in Las Vegas and other regional properties

6 of 19 brokerages rate the stock "buy" or higher, 11 "hold" and 2 "sell" or lower; their median PT is $113 - as per data compiled by LSEG

In 2024, shares were down 5.4%