Las Vegas Sands Shares Higher as BofA Says Co. Should Spin-Off Asian Malls, Buyback Shares
Las Vegas Sands (NYSE: LVS) responding positively following comments from BofA analyst LVS is up nearly 2% at last check amid BofA analyst Shaun Kelley's assessment of Las Vegas Sands as being “under levered” compared to its competitors.
Kelley noted that LVS could increase its debt two times over the next 18 months and still maintain agreeable terms.
The analyst also noted LVS has substantial real estate holdings in Asia that could be valued at $5-7 per share if spun off.
Las Vegas Sands could see an upside as high as $82 per share according to Kelley.
BofA maintains a Buy rating on LVS shares.
The stock is trading at $58.90 with above average volume at last check.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.