Remebber these clowns, Compass Point, they have been negative on LVS forever and have probably been getting crushed. The last I remember was they put a $32 PT and sell on LVS when Wall Street had an average price on LVS of about $62, that was in Sept 2012.
Here's the article:
"Compass Point Upgrades Las Vegas Sands (LVS) to Neutral
Compass Point upgraded Las Vegas Sands (NYSE: LVS) from Sell to Neutral with a price target of $44.00 (from $37.00).
The analyst comments, "Economic miracles apparently do happen, at least in the short-run. The epic pace of property appreciation in China, followed by only a very modest correction represents one of the first soft landings in modern history. Our contrarian call one-year ago was on point, only the hard landing we projected has been avoided (or delayed, in our opinion). The macro environment has stabilized and Macau gaming revenues have exhibited a re-acceleration of growth. We maintain our belief that the underpinnings of growth are not solid, and a more permanent correction is inevitable. However, the warning signals have abated and should be heeded."
Raised FY12/13 EBITDA estimates on LVS from $3,508/$3,821MM to $3,537/$4,007MM respectively. Issues FY14 EBITDA estimates of 4,259MM.
For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.
Shares of Las Vegas Sands closed at $53.56 yesterday, with a 52 week range of $34.72-$62.09."
I doubt history repeats itself this time. Compass Point helped pushed LVS last year using the ghosts of China declining economy, Eurozone problem, and slow US. Now bullet trains system is ramping up, US housing is better, China economy on the way up, European is better. Compass Point's clients will be crushed this time. We shall see
Sentiment: Strong Buy
IMO, they helped bring LVS down to the $30's when they put out their first price target. We all laughed at them, but the stock did drop to the levels they predicted. Perhaps I'm giving them more credit than they deserve, but this skittish market just crushes any bad news.
How in the heck could they have a "Neutral" rating on the stock if their new upgraded price target is $44 which is nearly $10 lower than the current price.
"Compass Point upgraded Las Vegas Sands (NYSE: LVS) from Sell to Neutral with a price target of $44.00 (from $37.00)."
Sentiment: Strong Buy