Stifel says there's 'considerable upside' still left in rallying shares of Wynn Resorts

Stifel has raised its price target on Wynn Resorts (WYNN) to $145 from $130, implying a 17.6% upside, maintaining a 'buy' rating due to strong international gaming market tailwinds. The firm highlights Macao's recent 12.2% year-on-year gaming revenue growth and the anticipated 2027 opening of Wynn's Al Marjan Island property in the UAE, which are expected to significantly boost EBITDA, with Macao and UAE projected to contribute 45% and 15% respectively by 2027. WYNN shares, already up 49% year-to-date, climbed 2% on the news, reflecting broad analyst bullishness.

Analysis

Investment firm Stifel has reiterated its bullish stance on Wynn Resorts (WYNN), raising its price target to $145 from $130, which implies a 17.6% potential upside from the current trading level. This revision is underpinned by strong tailwinds in the global gaming market, particularly the robust recovery in Macao, where gaming revenue recently grew 12.2% year-over-year to nearly $3 billion. Despite Wynn's shares already surging 49% year-to-date in 2025 and significantly outpacing the S&P 500, Stifel's analyst advocates for the stock as a 'core holding'. The forward-looking thesis highlights the market potentially overlooking the long-term benefits of the company's diversifying operations, specifically the planned opening of its Al Marjan Island resort in the UAE in early 2027. Stifel projects that by 2027, the Macao and UAE operations could contribute 45% and 15% of the company's EBITDA, respectively. This positive outlook is broadly shared, with 17 of 19 analysts covering WYNN rating it a buy or strong buy, and the stock reacted with a 2% gain following the target increase.

Key Decisions for Investors

• Given the stock's 49% year-to-date appreciation, investors should weigh the strong analyst consensus and momentum against their entry point, considering Stifel's view that WYNN remains a core holding with further upside.
• Investors should evaluate Wynn's valuation not just on current performance but on its future diversified earnings profile, particularly the projected 15% EBITDA contribution from the UAE property by 2027.
• It is prudent to continuously monitor key performance indicators supporting the bullish thesis, namely the monthly gross gaming revenue figures from Macao and any developmental or regulatory updates regarding the UAE resort project.