Las Vegas Sands (LVS), Wynn (WYNN) PTs Cut at BofA/Merrill Lynch on Lower Macau Estimates

BofA/Merrill Lynch analyst Shaun Kelley lowered his price target on Buy-rated Las Vegas Sands (NYSE: LVS) to $88.00 (from $95.00) and Wynn (NASDAQ: WYNN) from $270 to $260 after reducing 2014 Macau GGR estimates again to 5% from prior 12%, based on continuing deceleration in VIP and now mass as well.

The firm is lowering LVS/MGM/WYNN 2014 EBITDA estimates by 4%/1%/3%. We are also reducing 2015/16 estimates for MGM and WYNN by 1-4% and LVS by 8-9%.

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 $68.11 yesterday.

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