Brean Murray Carret Raises Price Target on Las Vegas Sands (LVS) Following Solid Sales Growth

Brean Murray Carret & Co. is reiterating its Buy rating on shares of Las Vegas Sands (NYSE: LVS), while raising its price target from $54 to $57.

The company reported strong quarterly results with earnings falling inline at $0.57 per share on 26 percent sales growth. Singapore results were slightly below expectations due to the FX translation and higher bad debt expense. VIP volumes and revenues in Macau drove the solid sales growth.

An analyst at Brean Murray Carret comments, "The recent opening of a subway stop and cruise ship port later this year should reinvigorate growth in Singapore, while the opening of Cotai Central should maintain the strong growth in Macau where EBITDA increased 28.5 percent in Q4."

The firm tweaked its Q1 and FY12 EPS estimates from $0.56 and $2.37 to $0.54 and $2.41. Brean Murray Carret also raised its FY13 EPS estimate from $2.85 to $2.87.

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 $51.07 yesterday.

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