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Analyst Downgrades Wynn Resorts Stock

3 Nov 2003

NEW YORK -- A securities company that follows the gaming industry has lowered its rating on Wynn Resorts Ltd. stock and has increased a 12-month target price for the issue.

"Banc of America Securities analysts J. Cogan and David Vas issued a report Thursday lowering the rating of Wynn stock from `buy' to `neutral' and placed a target price on the issue of $23.

"…In their report, Cogan and Vas said the long-term outlook for the stock is favorable, but that because Wynn's resort in Macau may take longer to open than originally expected, they moved to the `neutral' rating…"

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