Morgan Stanley analyst Stephen Grambling maintained a Hold rating on Las Vegas Sands today and set a price target of $59.00.
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Stephen Grambling has given his Hold rating due to a combination of factors including the mixed performance across Las Vegas Sands’ key markets. While the company’s Singapore operations, particularly Marina Bay Sands, showed impressive results with a significant year-over-year increase in EBITDA, the performance in Macau was less remarkable, aligning closely with expectations and slightly impacted by external factors such as a typhoon.
Despite the strong financial results from Singapore, the overall outlook for Las Vegas Sands remains cautious. The company’s stock repurchase and dividend increase are positive indicators, but the modest upside and recent market conditions in Macau suggest a balanced risk-reward scenario. Therefore, the Hold rating reflects a wait-and-see approach, acknowledging both the potential for growth and the existing uncertainties in the market.
Grambling covers the Consumer Cyclical sector, focusing on stocks such as Las Vegas Sands, Hyatt Hotels, and MGM Resorts. According to TipRanks, Grambling has an average return of 6.2% and a 59.73% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $54.00 price target.