Argus Upgrades Las Vegas Sands (LVS) to Buy
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Argus upgraded Las Vegas Sands (NYSE: LVS) from Hold to Buy with a price target of $67.00.
The upgrade following a gain in Macau gaming revenue in August for the first time in 27 months, and reflects a shift in Macau toward the mass market segmet.
"We believe that LVS is well positioned in this segment, and expect it to benefit from its Integrated Resort business model, which includes hotels, convention centers, and retail stores, as well as casinos," the analyst said.
The firm is raising 2016 EPS estimate from $2.00 to $2.16 and 2017 estimate from $2.28 to $2.40. The firm's long-term earnings growth rate estimate is 14%.
Shares of Las Vegas Sands closed at $56.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on Microsoft (MSFT) to $65 Following 1Q Beat
- UPDATE: Seaport Global Securities Starts Canadian Pacific Railway Limited (CP) at Buy
- Credit Suisse Upgrades Imperial Oil Limited (IMO) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Hot Upgrades, Upgrades
Related EntitiesArgus, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!