Wynn Resorts Price Target Lowered At Credit Suisse

In a note out Thursday morning, Credit Suisse analyst Joel Simkins reduced the price target on Wynn Resorts, Limited (NASDAQ: WYNN) from $220 to $210, while maintaining the Neutral rating on the stock.

Simkins thinks the special dividend of $1.00, in addition to upping the regular dividend to $1.50 per quarter, may appease investors following the recent earnings disappointment. He goes on to say that the recent signs of an improvement in Las Vegas gaming numbers should also benefit the stock, while still being cautious on the growth story from Macau and lack of catalysts from Japan.

Shares of Wynn Resorts closed Wednesday at $185.93, or 13 percent below the current $210 revised price target.