Nomura Securities Maintains a 'Buy' on Las Vegas Sands (LVS); Q4 Review
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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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Nomura Securities maintains a 'Buy' on Las Vegas Sands (NYSE: LVS) price target of $62.00.
Analyst, Harry Curtis, said, "We believe LVS’ 4Q hold adjusted consolidated net EBITDA of $892M is unlikely to lead to significant estimate changes for 2012 and 2013. Sands China beat expectations due to strong growth in VIP and an 18% sequential increase in slot volume, which we attribute to higher mix of ETGs and more innovative themed domestic slots. MBS, though, was disappointing not just on the VIP volume side, as was expected. Mass and slot volumes also plateaued sequentially. However, we do not believe the Q4 performance is the end of growth for MBS, as it should benefit from infrastructure improvements adjacent to the property. Our 2012E EPS goes from $2.78 to $2.71 and 2013E from $3.33 to $3.27. We expect the opening of Sands Cotai in ~60 days will be the catalyst that pushes the stock price towards the low 60’s."
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 $50.18 yesterday.
Analyst, Harry Curtis, said, "We believe LVS’ 4Q hold adjusted consolidated net EBITDA of $892M is unlikely to lead to significant estimate changes for 2012 and 2013. Sands China beat expectations due to strong growth in VIP and an 18% sequential increase in slot volume, which we attribute to higher mix of ETGs and more innovative themed domestic slots. MBS, though, was disappointing not just on the VIP volume side, as was expected. Mass and slot volumes also plateaued sequentially. However, we do not believe the Q4 performance is the end of growth for MBS, as it should benefit from infrastructure improvements adjacent to the property. Our 2012E EPS goes from $2.78 to $2.71 and 2013E from $3.33 to $3.27. We expect the opening of Sands Cotai in ~60 days will be the catalyst that pushes the stock price towards the low 60’s."
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 $50.18 yesterday.
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