Wynn Stocks Slide

9 Nov 2004

LAS VEGAS – As reported by The Street.com: "Wynn Resorts (WYNN:Nasdaq) fell more than 6% Tuesday following an analyst's downgrade and news the casino company will dilute its common stock.

"Banc of America Securities analyst Jeremy Cogan downgraded Wynn from buy to neutral Tuesday, saying positive news is already baked into the stock's price.

"…'We remain fans of the Wynn story,' wrote Cogan in a note accompanying his downgrade. 'We continue to believe Wynn is in the crosshairs of three of the strongest themes in gaming (i.e., significant growth opportunities in Macau, strong Las Vegas fundamentals, and the recent speculation on land values on 'The Strip' [in Las Vegas] ). Even so, at current levels we think most of the good news is discounted.'

"…The analyst noted that Wynn's stock has risen more than 80% since mid-August. On Tuesday, shares fell $4.18, or 6.51%, to $60.01…"

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	Wynn Stocks Slide 9 Nov 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> LAS VEGAS – As reported by The Street.com: "Wynn Resorts (WYNN:Nasdaq) fell more than 6% Tuesday following an analyst's downgrade and news the casino company will dilute its common stock. "Banc of America Securities analyst Jeremy Cogan downgraded Wynn from buy to neutral Tuesday, saying positive news is already baked into the stock's price. "…'We remain fans of the Wynn story,' wrote Cogan in a note accompanying his downgrade. 'We continue to believe Wynn is in the crosshairs of three of the strongest themes in gaming (i.e., significant growth opportunities in Macau, strong Las Vegas fundamentals, and the recent speculation on land values on 'The Strip' [in Las Vegas] ). Even so, at current levels we think most of the good news is discounted.' "…The analyst noted that Wynn's stock has risen more than 80% since mid-August. On Tuesday, shares fell $4.18, or 6.51%, to $60.01…"

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Wynn Stocks Slide