Las Vegas Sands upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Daniel Politzer upgraded Las Vegas Sands (LVS) to Overweight from Neutral with a price target of $60, up from $56. The firm cites the recent pullback in the shares and its increasingly positive view of Singapore for the upgrade. In addition, Macau estimates are “reasonably set here,” the analyst tells investors in a research note. JPMorgan believes Las Vegas Sands’ exposure to Singapore is being mispriced at an implied value of only $27 per share versus its estimate of $37.