BofA analyst Shaun Kelley raised the firm’s price target on Las Vegas Sands (LVS) to $55 from $52.50 and keeps a Neutral rating on the shares. A revenue and EBITDA beat in Q2 was driven by “an incredible quarter in Singapore,” says the analyst, who adds that Macau is still working on its turnaround. Las Vegas Sands is stepping up their promotional reinvestment to regain share in Macau and the firm thinks these initiatives will continue to roll out in Q3, but could start to bear fruit by year end, the analyst added.
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