Deutsche Bank Maintains a 'Buy' on Las Vegas Sands (LVS); Early, but LVS Junket Program Making Headway
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Price: $46.23 +1.01%
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank maintains a 'Buy' on Las Vegas Sands (NYSE: LVS) price target of $62.00.
Deutsche analyst says, "While too early to call it a trend, LVS VIP rolling chip volume share in November (11.1%) was up 150 bps versus October and 180 bps versus September, largely stemming from significant acceleration in rolling chip volume at Four Seasons."
"Looking across the market at sequential changes in rolling chip volume
shares, it appears to us as though the bulk of the LVS share gain came at
the expense of Galaxy and Wynn (Nasdaq: WYNN). We do not believe the Wynn share loss will come as a surprise to many given management has been forthright with respect to new competition (properties and junkets) hampering share into and throughout 2012. Furthermore, we note that Wynn Macau is also doing some modest junket tweaking and some mass to VIP table conversions that we expect to bear some fruit in the coming months."
"Overall rolling chip volume in the market was up ~30% y/y in November
with essentially flat hold driving VIP GGR +31%. Mass table revenue was
up 41% y/y and slot revenue grew 26% y/y."
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 $46.02 yesterday.
Deutsche analyst says, "While too early to call it a trend, LVS VIP rolling chip volume share in November (11.1%) was up 150 bps versus October and 180 bps versus September, largely stemming from significant acceleration in rolling chip volume at Four Seasons."
"Looking across the market at sequential changes in rolling chip volume
shares, it appears to us as though the bulk of the LVS share gain came at
the expense of Galaxy and Wynn (Nasdaq: WYNN). We do not believe the Wynn share loss will come as a surprise to many given management has been forthright with respect to new competition (properties and junkets) hampering share into and throughout 2012. Furthermore, we note that Wynn Macau is also doing some modest junket tweaking and some mass to VIP table conversions that we expect to bear some fruit in the coming months."
"Overall rolling chip volume in the market was up ~30% y/y in November
with essentially flat hold driving VIP GGR +31%. Mass table revenue was
up 41% y/y and slot revenue grew 26% y/y."
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 $46.02 yesterday.
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