Below is a note from Hedgeye CEO Keith McCullough on why we're adding Wynn Resorts (WYNN) to Investing Ideas today:
"Looking for 4-letter ticker that are signaling immediate-term TRADE oversold today that are not in the FAANG?
How about buying some Macau #GrowthAccelerating exposure via one of Gaming, Lodging & Leisure analyst Todd Jordan's favorite names right now? That would be Wynn Resorts (WYNN)."
The below is an excerpt of Jordan's recent Institutional Research note on Macau revenue growth accelerating:
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With the segmental trends in mind, WYNN and Galaxy are the major beneficiaries of the VIP explosion and could post the biggest upside to Q2 estimates. We’re not anticipating that the current VIP growth rate will be sustained but our 2017 GGR forecast does remain higher than the Street. More importantly, favorable conditions are in place for long term mass revenue growth in Macau, as we outlined in detail during our recent conference call and presentation, “MACAU | THE SOUND BEYOND THE NOISE. |
