UPDATE: Cantor Fitzgerald Downgrades Las Vegas Sands to Hold, Lowers PT
In a report published Friday, Cantor Fitzgerald downgraded its rating on Las Vegas Sands Corp. (NYSE: LVS) from Buy to Hold, and lowered its price target from $50.00 to $46.00.
Cantor Fitzgerald noted, “We are downgrading Las Vegas Sands to HOLD from BUY and lowering our price target to $46 from $50. The stock has had a nice run from its July lows, but the growth challenges displayed in Singapore this quarter precipitated this change in our outlook. While LVS still has a compelling long-term growth and FCF story, we think near-term concerns raised in yesterday's earnings report are likely to keep the shares in neutral.”
Las Vegas Sands Corp. closed on Thursday at $46.46.
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