Las Vegas Sands (LVS) PT Lowered to $65 at Mizuho

Mizuho lowered its price target on Las Vegas Sands (NYSE: LVS) to $65.00 (from $70.00) while maintaining a Buy rating.

The analyst commented: "Our $65 price target (vs. $70 previously) is based on a SOP analysis, applying 11x to our ’25E Macau EBITDA of ~$2.9bn implying value of $24/share, 13x to Singapore ’25E EBITDA of ~$2.2bn implying value of $41/share, corp/parent co drag of $6/share, and two years of FCF of $6/share."

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