Gabelli Says Las Vegas Sands (LVS) is "Oversold"

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Gabelli reiterated their Buy rating on Las Vegas Sands (NYSE: LVS) noting the 32% decline from the 52-week high of $62 due to China-related macro concerns and a general slowdown in Macau.

The firm said they believe the stock is oversold. They estimate mid-teens growth in Macau, continued strength in the Singapore market and modest top-line growth and margin improvement in the Las Vegas market. They see the company generating revenues of $11.6 bn and $3.9 mm in EBITDA in 2012.

Trading at under 10x 2012 EBITDA estimate, the firm calculate's a 2012 PMV of $57.

For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.

Shares of Las Vegas Sands closed at $42.31 yesterday, with a 52 week range of $34.72-$62.09.

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