Stifel lowered the firm’s price target on Las Vegas Sands (LVS) to $72 from $75 and keeps a Buy rating on the shares. Investor fears about Macau margin compression and elevated promotional activity will “only be intensified post this release,” says the analyst. While the firm ultimately believes Sands can get to a $700M/quarter EBITDA run rate in Macau, it doesn’t believe that will be happening “anytime soon,” the analyst added.
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