UPDATE: Citi Upgrades Wynn Resorts from Sell to Hold and Lowers PT from $133.50 to $133.00

Citi has published a report on Wynn Resorts WYNN upgrading the company's stock from Sell to Hold and lowering the price target. In the report, Citi wrote, "Based on our channel checks, Macau total gross gaming revenue (including slots) through the first seven days of August amounted to ~MOP4.5bn. At the current run rate, we believe full August GGR could exceed ~MOP20.5bn, reflecting ~30% growth YoY." Citi upgraded Wynn from a Medium Risk Sell to a Medium Risk Hold with a price target lowered from $133.50 to $133.00. Wynn closed Monday at $126.91.