NEW YORK (TheStreet) -- Wynn Resorts (WYNN) shares are down -1.1% to $198.19 on Tuesday after analysts at Morgan Stanley (MS) lowered their 2014 and 2015 Macau gaming revenue growth estimates.
The firm lowered its expectations to 6% growth this year and 11% growth next year from its previously expected revenue growth of 12% and 12.5%, respectively.
Despite grim expectations for the gaming industry's overseas enclave in Macau, the firm is bullish on the industry's domestic prospects.
"Market participants in Vegas reiterated our confidence that the YTD strength should continue in 2H/'15. Room nights are trending up y/y for the next 4 quarters, including the difficult 1Q15 comp when we lap Con/Agg (lots of smaller, more profitable shows offsetting)," analysts wrote in a research note.
Separately, TheStreet Ratings team rates WYNN RESORTS LTD as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate WYNN RESORTS LTD (WYNN) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."