Argus Ups Target on Las Vegas Sands (LVS) to $58, Reiterates Buy

November 24, 2010 12:36 PM EST Send to a Friend
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Price: $63.22 --0%

Rating Summary:
    15 Buy, 12 Hold, 0 Sell

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    Up: 0 | Down: 0 | New: 0
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An analyst at Argus Research today boosted his price target on shares of Las Vegas Sands (NYSE: LVS) by almost 32% from $44 to $58. The analyst reiterated a Buy rating on the casino operator.

The firm said its bullishness can be attributed to "signs of improvement in Las Vegas, prospects for solid profitability in the near-term, capital availability, and the significant growth potential of the Marina Bay Sands in Singapore." Argus also points at easy comps for Las Vegas Sands' Vegas properties over the next few quarters.

"Management has eliminated substantial costs from its operations, particularly in Las Vegas, right-sizing the organization for the current business climate," Argus said.

The firm boosted its FY10 EPS outlook for Las Vegas Sands from 72c to 74c and its FY11 estimate from $1.06 to $1.12. The Street is currently looking for FY10 and FY11 EPS of 99c and $1.68, respectively.

With shares of Las Vegas Sands up 3.6% to $50.82 this afternoon, Argus' new price target implies potential upside of about 14%.

Visit our Analyst Ratings page to track all the upgrades/downgrades on shares of Las Vegas Sands.


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Comments

Hold or Regret it
DJ on 2010-11-24 19:27:48
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Singapore is just getting started. Vegas is improving. Macau is still growing. Venetian in Macau is the powerhouse earner with great critical mass generated by their own marketing team, assisted by City of Dreams across the road and also with the heavily invested Galaxy Resort about to come on line on the other side. Venetian Macau get better elongation of play than competitors because they have 3000 hotel rooms to utilise and guests play into the early hours every day. Their new properties will not come on line until early 2012 but this is all part of the growth story that assures future appreciation. What else is assured - the new ferry terminal at Cotai, future light rail, more competitors and developments planned at Cotai with SJM chomping to get started out their etc etc. The centre of gravity and critical mass will shift to Cotai. These big properties all feed off each other the same way Mcdonalds is assisted when Pizza Hut moves next door. MPELs City of Dreams continues to improve. People who dont hold LVS or MPEL for the next 2-3 years at least will severely regret it.

LVS long term
Vic on 2010-11-24 18:01:49
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I've had LVS since it hit rock bottom. The reason I believe it is so volatile is because people are locking in gains. I though will continue to hold and trust it will go up up up!

ok...
Dum bass on 2010-11-24 13:28:55
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If you could spell "manipulation" correctly, then perhaps I would give you an ounce of credit. However, you are a moronic idiot, who's name is "LVS Shorter". Thanks for the thorough, well thought out comment and for putting a lot of analysis into this one!

No it will go down
LVSShorter on 2010-11-24 13:19:13
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I don't think so. This stock is such a manulation and it will go down in a short term


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