Brean Murray Carret Cuts Price Target on Las Vegas Sands (LVS), Reduces Macau Growth Outlook

Brean Murray Carret & Co. is reiterating its Buy rating on shares of Las Vegas Sands (NYSE: LVS), but is lowering its price target from $57 to $54 on lower growth forecasts in Macau.

The firm notes growth for November represented the lowest year over year growth so far this year. As a result, Brean Murray Carret remains concerned over the economic slowdown in China. To go inline with their new model, the firm is reducing its 2012 growth outlook for Macau from 26 percent to 20 percent.

Brean Murray Carret is also cutting its Q4 and FY11 EPS estimates from $0.56 and $1.94 to $0.53 and $1.91 to go inline with their new model. For FY12 and FY13, the firm lowered its EPS estimates from $2.48 and $2.95 to $2.37 and $2.85.

Over the near term Brean Murray Carret forecasts stock prices will remain depressed given the lack of catalysts, but believes shares are attractive at current levels.

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 $45.58 yesterday.

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