Las Vegas Sands (LVS) PT Lowered to $64 at Stifel

Stifel analyst Steven Wieczynski lowered the price target on Las Vegas Sands (NYSE: LVS) to $64.00 (from $66.00) while maintaining a Buy rating.

He said, "While Macau-centric stocks remain somewhat out of favor (for a number of reasons), we believe LVS should be in a favorable position over the next six months as market share gains seems inevitable based on certain refurbished assets coming back online. LVS management continues to not only invest heavily in their Macau assets, but also continue to chip away at their HK stub. Given the strong track record of this management team, we believe optimism about Macau’s long-term prospects just can’t/shouldn’t be ignored. Bottom line is we see a clear path to $60+/share in the near-term as investors grow more comfortable with the Macau/Singapore landscape. As we look across our coverage, Macau-centric names should be a group that outperforms this year given the fact demand patterns should accelerate which could translate into positive estimate revisions. Our price target moves to $64 (2026 SOTP) post slight revisions to our estimates."

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