Las Vegas Sands (LVS), Wynn Resorts (WYNN) Price Targets Lowered at Goldman; Analyst Views Sell-Off as Buying Opportunity
Get Alerts LVS Hot Sheet
Rating Summary:
27 Buy, 12 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 2 | Down: 3 | New: 2
Join SI Premium – FREE
Goldman Sachs maintained a Buy rating on Las Vegas Sands (NYSE: LVS) but lowered its price target to $85.00 (from $91.00). Wynn Resorts Ltd (NASDAQ: WYNN) price target was lowered to $247 (from $261). Analyst Steven Kent said his long-term bullish thesis was intact, and he sees the recent sell-off as a buying opportunity.
"Thus far in 3Q (6/30/14 - 8/27/14), WYNN and LVS stocks have declined 5.47% and 11.39%, respectively, underperforming the broader S&P 500 (+2.03%). While the lag has generated some investor interest, we sense that near-term concerns are likely to maintain valuations somewhat subdued. Specifically, we believe the anti-graft crackdown in China, effects of the upcoming smoking ban implementation (October 6, 2014), labor protest and construction concerns, and lack of clear signs that the weakness is abating create some near-term uncertainty," said Kent.
"While we adjust our 12-month price targets lower for WYNN and LVS given multiple re rate lower, we reiterate our Buy ratings and maintain our view that the sell-off is a buying opportunity. Longer term, we continue to expect an increase in room and gaming supply as well as improved infrastructure to drive strong visitation and GGR growth for the region," he added.
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 $67.65 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Upgrades Bharat Forge Ltd. (BHFC:IN) to Buy
- Orange SA (ORA:FP) (ORAN) PT Raised to EUR14.30 at JPMorgan
- Jefferies Downgrades Calix (CALX) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Goldman Sachs, Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!