Wynn Resorts: Strong Buy On Macau And Vegas Growth

  • Initiate Strong Buy on Wynn Resorts with $187 price target supported by 3.9× FY26 EV-to-Sales and 29% margin outlook. WYNN's Macau premium mass resilience and Gourmet Pavilion traffic fuel above-consensus revenue and EBITDA through 2026. Las Vegas group bookings and steadfast rate discipline expand operating leverage and sustain double-digit EBITDA growth.