Las Vegas Sands (LVS) PT Raised to $72 at Nomura/Instinet
Nomura/Instinet raised its price target on Las Vegas Sands (NYSE: LVS) to $72.00 (from $69.00) while maintaining a Neutral rating following the company's 1Q. EBITDA of $1.37bn was 6.5% ahead of the Street at $1.28bn. The upside was driven by a 21% surge in mass volume in Macau.
1Q EBITDA in Vegas of $141mn was above the consensus of $114mn. Results in Vegas were driven by both table volume growth and a 1.2% lift in RevPAR despite a tough Con/Agg-driven comp.