Cramer Says Wynn (WYNN) Shares Should Be At $70

Shares of Wynn Resorts (Nasdaq: WYNN) have spiked higher mid-day following positive comments from TheStreet.com's Jim Cramer.

Appearing on CNBC for his daily Stop Trading! segment, Cramer touted Wynn shares, admitting that Chairman and CEO, Stevie Wynn, has created quite a brand. Cramer feels Wynn is being sharply undervalued by the market and believes the stock should be trading somewhere around $70.

Shares of Wynn are trading more than 6% higher today following reports on Tuesday that the casino operator could be planning a Hong Kong IPO for it's Macau assets, something Las Vegas Sands announced earlier this week.

With the stock trading above $45 today, Cramer's lofty target represents potential upside of more than 56% from current levels.

To stay up-to-date on all things Cramer-related, visit our Entity page for the entertaining pundit.

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