NEW YORK, NY / ACCESSWIRE / May 15, 2017 / Wynn Resorts was one of the S&P 500's biggest leaders after a Barclay's upgrade sent shares higher. The stock was also giving a price target significantly higher than current share prices. General Electric saw red on Friday after investors found out that Deutsch Bank has predicted the company would cut its dividend.

RDI Initiates Coverage on:

Wynn Resorts, Limited
https://ub.rdinvesting.com/news/?ticker=WYNN

General Electric Company
https://ub.rdinvesting.com/news/?ticker=GE

Wynn Resorts, Limited shares closed up 2.50% on Friday and came just six cents shy of the stock's 52 week high of $127.20 during intra-day trading. Shares started rising after traders found out that the stock had received an upgrade from Barclay's from "equal weight" to "overweight." The firm also raised its price target significantly from $87 to $144 a share. In the last quarter Wynn Resorts beat estimates of profit by around 33% and sales by around 7.2%. The company posted $1.24 per share, while Thomson Reuters estimated 93 cents. Revenue at $1.48 billion was also higher than the $1.38 billion that analysts had called for. It was just last month that the company's board gave the nod to build a $1.5 billion lagoon-theme park in Las Vegas. The park will feature a 20-acre lagoon right in Las Vegas. During the company's Q1 earnings call, CEO Steve Wynn said, "We've got all these great ideas that are going into this lagoon and this beach front property." The stock is up 45% so far this year.

Access RDI's Wynn Resorts Research Report at:
https://ub.rdinvesting.com/news/?ticker=WYNN

General Electric Company shares closed down 2.08% and hit a new low of $27.85 during intra-day trading. Traders weren't so thrilled with Deutsche Bank downgrading the stock from "hold" to "sell." Analysts at the bank also think General Electric will have to cut its dividend per share, which stands at 24 cents right now. To make matters worse, Deutsch Bank also believes GE will have to lower its earnings guidance. John Inch, an analyst at the bank said, "GE's weak cash flow has become worse in recent quarters ... The company appears to be operating relatively 'close to the line' in terms of sufficient cash generation to continue to fund such a robust dividend and share repurchase program."

Access RDI's General Electric Research Report at:
https://ub.rdinvesting.com/news/?ticker=GE

Our Actionable Research on Wynn Resorts, Limited (NASDAQ: WYNN) and General Electric Company (NYSE: GE) can be downloaded free of charge at Research Driven Investing.

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