February 12, 2013
08:20 EDT LVS Las Vegas Sands upgraded to Buy from Hold at Argus
Argus upgraded Las Vegas Sands based on Macau prospects driven by an improving Chinese economy, limited supply growth, strong food and beverage sales, and higher retail tenant rent.
Argus upgrades LVS to Buy from Hold and sets target price at $66. Firm is optimistic about LVS's prospects in Macau in 2013 and in subsequent years. LVS has added rooms and gaming tables in Macau, and even with these additions, its hotels are nearly fully booked for the current Chinese New Year period. Looking ahead, firm expects results in Macau to benefit from improvement in the Chinese economy as well as from more limited supply growth, strong food and beverage sales, and higher retail tenant revenue. Sixty Sixty dollar price target Looks Great $$
Certainly good news, but given the update parade, I kinda have they feeling Argus is at the end of the parade and you know what those marchers have to walk through? Oh, that's so unfair, I take it back. Thanks for the update.
Or did they upgrade LV$ just to get there clients out ? Knowing the investment community isn't completely sold on Eurovegas as of yet? It's really hard to read these investment analyst I have a low level of trust for them.