Wynn Resorts (NASDAQ:WYNN), MGM (NYSE:MGM), Boyd (NYSE:BYD) Surge on Upgrades

The gaming sector was hot today, as Wynn Resorts (NASDAQ:WYNN), MGM Resorts (NYSE:MGM) and Boyd Gaming Co. (NYSE:BYD) were all upgraded by analysts, and share prices rocketed up.

Bank of America upgraded Boyd and MGM Resorts, with Bank of America saying "Las Vegas is recovering and we believe Boyd is a derivative way to play the recovery with nearly 50% of total [earnings before interest, taxes, depreciation and amortization] coming from the Las Vegas Locals and Downtown markets."

MGM Resorts International was also upgraded by Bank of America.

Wynn Resorts got a boost from Wells Fargo (NYSE:WFC), noting strength in the Macau market.

Bank of America upgraded Boyd Gaming from "Underperform" to "Buy." Boyd was trading at $12.23, gaining $1.22, or 11.08 percent, as of 2:37 PM EST. MGM Resorts was upgraded from "Neutral" to "Buy." MGM was trading at $15.74, up $0.81, or 5.39 percent.

Wynn Resorts was trading at $119.63, up $1.59, or 1.37 percent. Wells recommends buying protection via puts, as the share price is approaching 52-week highs.