Analyst Carlo Santarelli of Deutsche Bank reiterated a Buy rating on Las Vegas Sands (LVS – Research Report), with a price target of $66.00.
Carlo Santarelli’s Buy rating on Las Vegas Sands (LVS) is underpinned by a number of considerations, including the company’s solid fourth-quarter performance and a positive outlook for its operations, particularly in Macau. The report suggests that the Las Vegas Sands’ adjusted property EBITDA in Macau surpassed the forecast by $15 million and aligned with expectations at Marina Bay Sands. Despite potential concerns about refurbishments at The Londoner, Santarelli believes that the robust nature of the results and a healthy outlook support the stock’s current position.
Another component bolstering the Buy rating is the observed expansion in hold-adjusted margins, particularly a quarter-over-quarter increase at Marina Bay Sands and stable margins in Macau, which are close to the levels seen in the fourth quarter of 2019. Additionally, the report notes a decrease in promotions and discounts, which indicates a more efficient revenue management. This efficiency, along with optimism about future returns from investments in Singapore and share buyback activities, further reinforces the positive sentiment. Despite mixed estimate revisions for the upcoming years, the valuation remains attractive, with the price target holding steady at $66, suggesting that the current market sentiment has not fully appreciated the company’s potential, thereby offering an opportunity for investors.
In another report released on January 25, CFRA also upgraded the stock to a Buy with a $60.00 price target.
LVS’s price has also changed moderately for the past six months – from $57.350 to $50.150, which is a -12.55% drop .
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Las Vegas Sands (LVS) Company Description:
Founded in 2004, Nevada-based Las Vegas Sands Corp. is a leading global developer of destination properties that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. It operates integrated resorts in Asia and the United States.
Read More on LVS:
- Las Vegas Sands CFO Contract Extended and Modified
- Las Vegas Sands price target lowered to $64 from $65 at Wells Fargo
- Las Vegas Sands (NYSE:LVS) Gains after Mixed Q4 Results
- Las Vegas Sands Earnings Report: Did it Beat Expectations?
- Las Vegas Sands to purchase approximately $250M of SCL common stock
