Analysts issue ‘buy’ ratings

Thursday, Dec. 5, 2002 | 11:19 a.m.

Three investment companies have initiated coverage of Wynn Resorts Ltd. with "buy" ratings, targeting stock price goals ranging from $18 to $20 a share in a year.

Deutsche Bank Securities Inc., New York, Banc of America Securities, San Francisco, and Thomas Weisel Partners, San Francisco, said today they anticipate growth for the company headed by Steve Wynn, who built and later sold the Mirage empire and has broken ground on Le Reve on the Las Vegas Strip.

Analysts for the companies said they were enthused with prospects for Le Reve and for Wynn's proposed casino project in Macau.

"Wynn Resorts is convinced that it has designed a better 'whaletrap,"' said Banc of America Securities analyst J. Cogan of Le Reve in a report issued today.

Banc of America and Thomas Weisel target the stock to rise to $18 a share within a year while Deutsche Bank has targeted $20 in a year and $30 in three years.

Today, the stock was trading at $12.90 a share, up 30 cents a share from Wednesday.