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BofA Upgrades Caesars Entertainment, Downgrades Wynn On Macau Concerns

August 9, 2021


Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded lower by nearly 5% on Monday morning after the stock was downgraded on concerns about the lagging casino recovery in Macau.

The Analyst: Bank of America analyst Shaun Kelley downgraded Wynn from Buy to Neutral and cut his price target from $130 to $105. In the same note, Kelley upgraded Caesars Entertainment Inc (NASDAQ:CZR) from Neutral to Buy and reiterated his $125 price target.

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