Jefferies Reiterates Buy, Raises PT to $174 On WYNN

Jefferies is reiterating its Buy rating and has raised its price target from $141 to $174 on Wynn Resorts WYNN, a company that it classifies as Best In Class. Says Jefferies, in the report, “The strong 1Q11 earnings results, together with indications of continued accelerating dynamics in Macau, stabilizing trends in Las Vegas, and ongoing operating excellence, continue to warrant a premium to the group, in our view. Reiterating BUY.” WYNN closed at $138.93 yesterday.