Casino stock Wynn Resorts (NASDAQ:WYNN) was last seen up 2.1% at $125.78, trading at fresh four-year highs after an upgrade from UBS to "buy" from "neutral," with a price-target hike to $147 from $101. UBS is joining the bullish majority with today's note, as 16 of the 19 analysts in coverage now carry a "buy" or better rating on the stock, with three a tepid "hold."
The firm cited strength in Macau as well as growth potential in the United Arab Emirates (UAE). Wynn secured the first (and only) commercial gaming operator license in the UAE late last year, with its AI Marjan resort set to open early 2027.
Today's pop has WYNN on track for its fifth-straight daily gain. The stock just overcame pressure at the $112 region with help from its ascending 40-day moving average, and is now up roughly 45% year-to-date.
Plus, short interest has been building despite the recent climb, and now represents 8.5% of WYNN's available float. It would take shorts over three days to cover, at the stock's average pace of trading.
