Wells Fargo Maintains a 'Market Perform' on Las Vegas Sands (LVS); Macau Parcel Extension; Earnings Still Key

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Wells Fargo maintains a 'Market Perform' on Las Vegas Sands (NYSE: LVS).

Analyst, Cameron McKnight, said, "Last night, LVS reported that the Macau government granted it a three year extension to complete development of Parcel Three in Cotai. The original construction deadline was April 2013, at which time the land rights could have been confiscated. We view this news as a slight incremental positive, though we maintain our cautious market/stock view...We remain Market Perform-rated on LVS and believe further near-term cuts to Street estimates will likely weigh on the stock."

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 $39.55 yesterday, with a 52 week range of $36.08-$62.09.

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