Wynn Resorts price target, EPS forecasts raised by Sterne Agee

Sterne Agee has raised its 2014 and 2015 EPS estimates for Wynn Resorts, but warned that capacity restraints in Macau will hold the company back in the near term. The firm now sees 2014 EPS of $8.90 and $9.95 for 2015, compared with its previous view of $7.45 and $8.05 respectively. Sterne Agee also raised its price target on the shares by $10 to $225. The firm said it “cautions that Macau market sentiment shifts may cause more sporadic downside volatility than peers given a still lengthy pre-opening time span combined with a slower than CY14/CY15 market growth outlook. We look for lower priced entry points.”