Las Vegas Sands (LVS) PT Raised to $71 at Jefferies on Stonger Macau and Faster Vegas Recovery
- S&P 500, Dow end at record highs as weak jobs data eases rate worries
- U.S. Added Only 266,000 Jobs in April, Well Below Estimates
- Roku (ROKU) Surges After Crushing Profit Estimates to Prompt an Upgrade to 'Buy' at Loop Capital
- Dollar broadly weaker after U.S. jobs data disappoint
- Square (SQ) Tops Q1 EPS by 25c
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Jefferies analyst David Katz raised the price target on Las Vegas Sands (NYSE: LVS) to $71.00 (from $66.00) to take into account the Macau recovery has been gradual but slightly better than expected and the Las Vegas recovery appeared to accelerate in March, as well as the pending sale of Venetian and Palazzo.
The analyst reiterated a Buy rating, stating "As we believe Asian assets in general command higher multiples given better fundamental growth profiles we are raising our valuation multiples, We now apply a 15X EV/EBITDA multiple and 17X P/FCFE, vs. 13.5X and 15X prior. While we raise our PT to $71 and maintain our Buy rating, we note that there remain several key issues. Mgt. previously indicated interest in pursuing US digital strategy and potential interest in Texas or Downstate NY licenses, which are as yet unclear. We expect Mgt. to provide further details in the upcoming release on 4/12."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gold Fields Limited (GFIJ:SJ) (GFIOF) PT Lowered to ZAR150 at Goldman Sachs
- Fiera Capital Corp. (FSZ:CN) (FRRPF) PT Raised to Cdn$11.50 at TD Securities
- OnTrak (OTRK) PT Raised to $36 at Cowen Following Earnings
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co
Sign 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!