Ge Long Hui·2025-10-15 06:42Core Viewpoint - Citigroup has placed Wynn Macau on a 30-day watchlist for upward catalysts, anticipating a potential outperformance in the stock price ahead of the company's earnings announcement next month [1] Group 1: Financial Performance Expectations - The market expects Macau gaming operators to see a year-on-year EBITDA growth of approximately 7% for the third quarter, while Citigroup projects Wynn's EBITDA to increase by 17% during the same period [1] - This anticipated strong performance is expected to translate into positive stock price momentum for Wynn [1] Group 2: Investment Rating and Target Price - Citigroup currently rates Wynn as a "Buy," highlighting the company's increasing investment in the high-end mass market segment [1] - Despite a continuous decline in market share for Wynn this year, it is believed that the completion of the Chairman's Club VIP gaming area expansion in the first quarter of next year will improve the situation [1] - The target price for Wynn is set at HKD 7.2, corresponding to an estimated enterprise value to EBITDA (EV/EBITDA) multiple of approximately 7.3 times for 2026 [1]