BUZZ-Argus lowers Wynn's PT on weak US markets

Las Vegas Sands Corp. +2.60% Pre
Wynn Resorts, Limited -0.90% Pre

Las Vegas Sands Corp.

LVS

54.84

54.84

+2.60%

0.00% Pre

Wynn Resorts, Limited

WYNN

103.06

103.06

-0.90%

0.00% Pre

** Argus lowers casino operator Wynn Resorts WYNN.O price target, citing weakness in U.S. markets

** PT at $135 from $150 earlier; maintains "buy" rating

** New price target represents 18% upside on stock's last close

** Brokerage says WYNN competes against the much larger Las Vegas Sands in both Macau and Las Vegas, which could lead to lower margins and loss of market share

** On Feb 12, co missed its Q4 adjusted profit estimates on weaker performance in its Las Vegas business and other regional properties

** However, brokerage says it expects WYNN's new casino/resort in the UAE, the first of its kind there, to be highly profitable

** As of last close, shares down about 4.9% YTD



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