Stifel reiterated its Buy rating and $150 price target on Wynn Resorts (NASDAQ:WYNN) following recent meetings with the company’s Vice President of Investor Relations, Lauren Seiler, at the firm’s annual Jackson Hole Consumer Ski Summit.
The analyst noted that the Las Vegas Strip continued to show a divided performance trend, with higher-end properties — a segment where Wynn specializes — outperforming mid-tier and lower-tier resorts. According to Stifel, Wynn likely would have recorded growth in Las Vegas Strip EBITDA this year if not for the ongoing room renovation project at Encore, which is scheduled to begin in the second quarter of 2026.
The firm also highlighted Wynn’s strong positioning in Macau, where the VIP and premium mass gaming segments have continued to outperform the base mass market. While investors have expressed concerns about margin pressure in Macau, the analyst said Wynn’s fourth-quarter 2025 margins would have been largely unchanged if normalized for hold rates and certain one-time expenses.
Stifel added that the recent pullback in the stock — driven by worries over Macau margin trends and geopolitical concerns tied to the United Arab Emirates — may present a favorable entry point for long-term investors, as the firm believes much of the current uncertainty is temporary.
