CNBC Investing Club

We agree with Wells Fargo that Wynn is set for a comeback as gamblers return to Macao

People pose for photographs in front of the Wynn Macau casino resort in Macau, China, on Tuesday, July 24, 2018.
Paul Yeung | Bloomberg | Getty Images

Wells Fargo on Thursday raised its earnings estimates for Club holding Wynn Resorts' (WYNN) operations in Macao, China, while increasing its price target on the casino operator. The move, driven by signs competitor Las Vegas Sands (LVS) is seeing a recovery at the world's biggest gambling hub, is further evidence Wynn is poised for a strong comeback as China reopens its economy.