Las Vegas Sands price target lowered to $57 from $64 at Stifel

Stifel analyst Steven Wieczynski lowered the firm’s price target on Las Vegas Sands (LVS) to $57 from $64 and keeps a Buy rating on the shares. The firm believes the recent selloff has created “a risk/reward setup that we view as being too attractive to pass up at this point,” but adds that the geopolitical and macro risk right now associated with China and Macau is “impossible to predict.” The firm has “significantly cut” its near-term and long-term estimates to both incorporate a tougher macro backdrop in China coupled with more subdued market share expansion for Sands specifically in order to be “as cautious as possible,” the analyst tells investors.