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Wynn Resorts (WYNN) Stock Slumps on Ratings Downgrade

NEW YORK (TheStreet) -- Shares of Wynn Resorts (WYNN) are sliding 0.77% to $94.15 in pre-market trading on Thursday following a ratings downgrade to "neutral" from "overweight" in a note released at JPMorgan earlier today.

The firm cut its price target on shares of the Las Vegas-based casino operator to $94 from $101.

Wynn's valuation is less attractive following the stock's 37% run so far this year, JPMorgan said in a note cited by the Fly.

The firm also cut...