Morgan Stanley Comments On Las Vegas Sands Amid Q2 Earnings Miss
In a note released Thursday morning, Morgan Stanley analyst Thomas Allen provided some insight into the firm's view on Las Vegas Sands (NYSE: LVS) following a miss in its second quarter 2014 earnings results.
Shares of Las Vegas Sands are down 2.5 percent in Thursday's pre-market as the Street begins to digest the company's second quarter earnings results.
Allen noted that the EBITDA miss was due to a "soft" top-line and higher operating expenditures. This, along with lower-than-expected share buybacks and cyclical challenges, have caused Allen to take a cautious standpoint for the near-term. However, he said there is no change to the structural growth story.
Looking forward Allen noted that the company still has ~$300 million remaining for its authorized share repurchases, which management said should be enough to get through the third quarter.
Allen currently rates Las Vegas Sands at Overweight and said the industry view is Attractive.
Latest Ratings for LVS
|Oct 2016||Bank of America||Upgrades||Neutral||Buy|
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