(Reuters) - Citigroup initiated coverage of Wynn Resorts Ltd with a "sell" rating and a price target of USD 29, and said it does not see any catalysts for the stock until the second half of 2009. "Although we believe Wynn is the best positioned U.S. (casino) operator in Macau, the opening of Encore in Las Vegas, visa issues and commission caps in Macau leave many landmines in the road ahead," analyst Anil Daswani said in a note to clients.