Stephen Grambling, an analyst from Morgan Stanley, reiterated the Hold rating on Las Vegas Sands (LVS – Research Report). The associated price target remains the same with $45.00.
Stephen Grambling has given his Hold rating due to a combination of factors related to Las Vegas Sands’ recent financial performance. The company’s first-quarter results showed mixed outcomes, with overall revenues falling short of expectations primarily due to weaker performance in Macau. Despite the Londoner ramping up, Macau’s mass market share declined, and EBITDA was below projections, reflecting challenges in the region.
On the other hand, Singapore’s operations provided a positive note with better-than-expected EBITDA driven by strong mass hold rates. However, the softness in Macau, combined with the company’s underperformance year-to-date, has led to a conservative outlook. The current valuation and market conditions suggest limited potential for a significant re-rating, prompting the Hold recommendation.
In another report released on April 14, Bank of America Securities also maintained a Hold rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LVS in relation to earlier this year.