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Consumer: Gaming & Lodging - 2010 3rd
Shaun Kelley rises to third place. The BofA Merrill Lynch Global Research analyst upgraded Wynn Resorts of Las Vegas from neutral to buy, making the case that the company’s balance sheet was improving and its newest property, Encore at Wynn Macau, would bolster the company’s bottom line. Good call.
BofA Merrill Lynch Global Research
Shaun Kelley rises from runner-up to third place. In November the BofA Merrill Lynch Global Research analyst upgraded Wynn Resorts of Las Vegas from neutral to buy, at $59.99, making the case that the company’s balance sheet was improving and its newest property, Encore at Wynn Macau, would bolster the company’s bottom line when it opened in the spring of 2010. Good call. The stock shot up 34.4 percent, to $80.61, through August. Kelley “seems to understand the management teams, especially in gaming and hotels, where so much depends on the decisions of these fabulously wealthy, larger-than-life personalities,” explains one satisfied supporter.