Las Vegas Sands Remains Constructive As Recovery Underway, Analyst Says
Morgan Stanley analyst Stephen W.Grambling reiterated an Overweight rating on the shares of Las Vegas Sands Corp (NYSE: LVS) and a price target of $53.
LVS reported Q4 results after the market close yesterday, beating the analyst’s expectations on a hold-adjusted basis.
The company also outlined $3.8 billion in concession-related spend over the next 10 years, with $2.7 billion allocated to capital projects and $1.1 billion to operating commitments, the analyst cited.
The management commentary on the conference call remained constructive, said the analyst. Singapore continued to build, and the Macau recovery is underway, led by higher spend/visitor.
LVS is now generating positive EBITDA in Macau and management highlighted visitation trends in their properties are outpacing the market, cited the analyst.
Importantly, if stronger spend / visitor holds as visitation comes back, flow through could push margins higher than pre-COVID, added the analyst.
The analyst specified that when combined with sustained momentum in Singapore, fundamentals are trending toward the Bull case within the risk-reward framework.
Also Read: Las Vegas Sands Options Traders Betting On Stock Rising This Much By Next Friday
Price Action: LVS shares are trading higher by 4.87% at $57.70 on the last check Thursday.
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Latest Ratings for LVS
Date | Firm | Action | From | To |
|---|---|---|---|---|
Jan 2022 | CBRE | Maintains | Hold | |
Jan 2022 | Deutsche Bank | Maintains | Buy | |
Jan 2022 | UBS | Upgrades | Neutral | Buy |
View More Analyst Ratings for LVS
View the Latest Analyst Ratings
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