We think fears regarding the company's near-term profitability are exaggerated.
We think the narrow-moat firm will generate double-digit sales growth starting in 2019.
We are maintaining our narrow moat rating and $166 fair value estimate.
Serious allegations have been levied against Steve Wynn; for now we maintain our fair value estimate and moat rating on the casino resorts operator.
Its network and efficient scale advantages are intact, despite exaggerated disintermediation fears.
The narrow-moat company's higher spend is being done for opportunistic reasons, and demand environment seems healthy.
A new user interface and TV campaign are bearing fruit for the narrow-moat firm.