TipRanks provides several tools to simplify the process of spotting stocks with higher potential to outperform market returns. One such tool is the Top Smart Score Stocks, which ranks stocks based on eight key factors and assigns a score between 1 and 10. Wynn Resorts (NASDAQ:WYNN), the luxury hotels and casino operator, secured its place on the “Perfect 10” Smart Score list.
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It is worth highlighting that stocks rated with the perfect Smart Score have consistently outperformed the S&P 500 Index (SPX) by a significant margin.
Key Reasons That Make WYNN Stock Attractive
Wynn stock has a Positive signal from hedge funds. Our data shows that hedge funds bought about 209,900 shares of the company in the last quarter. The stock also enjoys Bullish blogger sentiment and Very Positive news sentiment. Finally, the outlook of retail investors is also Very Positive.
Earlier this month, Wynn Resorts reported better-than-expected results for the third quarter of 2023, fueled by strong performance in key markets like Las Vegas and Macau. The company witnessed a surge in gaming, luxury retail, and hotel bookings.
Going forward, Wynn is well-positioned to benefit from its expansion into key markets, including the UAE. The company has already started construction on its first UAE gaming play, Wynn Al Marjan Island. This expansion could drive substantial growth over the long term.
On November 10, Citi analyst George Choi kept a Buy rating on WYNN stock. The analyst expects Wynn to benefit from a strong business momentum in the fourth quarter. Another analyst, Zachary Warring from CFRA, displayed his bullish sentiment on WYNN stock by upgrading his rating to Buy from Hold. He also raised his price target to $110 (24.6% upside potential) from $100.
Is WYNN Stock a Buy or Sell?
Wall Street analysts are highly optimistic about Wynn Resorts. It has a Strong Buy consensus rating based on eight Buys and two Holds. The average WYNN stock price target of $120 implies 35.9% upside potential. The stock has gained 4% year-to-date.
Ending Note
Stocks with the highest Smart Score on TipRanks can outperform the broad market averages. Additionally, for investors seeking more in-depth analysis and expert opinions, TipRanks’ Experts Center tool can provide valuable insights and recommendations on top stocks.
