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.
