Las Vegas Sands (NYSE: LVS) notched a modest rally Friday after shares of the casino giant landed an upgrade from a sell-side analyst. The Venetian Macau. Jefferies upgraded shares of operator Las Vegas Sands. (Image: YouTube) Jefferies analyst David Katz lifted his rating on the Venetian Macau operator to “buy” from “hold” while lifting his price target on the stock to $69 from $60. That implies potential upside of almost 38% from current levels. The analyst cited the possibility of an improving Chinese economy as a potential catalyst for Sands stock in 2025. Although it is early stages and visibility into progress remains relatively low, we are confident that given LVS’ exposure to the mass segment, improvements to the macro environment will provide an outsized benefit for the company,” observed Katz. Jefferies’ price target is based on Sands trading at 20x earnings, 12.5x price-to-free cash flow, and 11x enterprise value/earnings before interest, taxes, depreciation, and amortization (EV/EBITDA). Las Vegas Sands… Read More
Category: Asia Pacific Gaming, Financial, asia pacific gaming
Source: Casino.org
