Wynn Resorts Okada stake redemption a distinct positive, says Deutsche Bank

theflyonthewall.com

Deutsche Bank says Wynn Resorts has in effect repurchased 20% of its outstanding stock at a 30% discount to the current market value by redeeming director Okada's stake. The firm views the deal as a distinct positive and expects it to be 17% accretive to earnings. Deutsche thinks the deal will add $17 to its $148 price target and keeps a Buy rating on Wynn Resorts shares.

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