Bull of the Day: Wynn Resorts (WYNN)

We have an Outperform rating on Wynn Resorts (WYNN) as the company’s second quarter 2010 earnings were well ahead of the Zacks Consensus Estimate. They were primarily driven by better-than-expected top-line growth and improvements in the bottom line.

The company set record results in the Macau market. Additionally, with the global economy showing a gradual recovery, the company is experiencing an increase in demand. Its Las Vegas business, which was the worst hit at the time of slowdown, is also rebounding.

We remain encouraged with the company’s strong brand name, healthy balance sheet, relatively low capital requirements and ability to execute in a difficult operating environment.

WYNN RESRTS LTD (WYNN): Free Stock Analysis Report

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