Deutsche Bank Continues to See Competitive Pressures for Las Vegas Sands Corp.

In a report published Thursday, Deutsche Bank analyst Carlo Santarelli reiterated a Hold rating and $65.00 price target on

. In the report, Deutsche Bank noted, “[Last night], post market close, LVS reported results that missed Consensus, though were likely slightly ahead of recent expectations. Our views remain consistent with those expressed in our recent downgrade as we continue to believe key segments, most notably grind mass, are likely to face meaningful competitive pressures when openings commence on Cotai. As premium mass margins remain pressured given competition, VIP struggles, and forward estimates remain elevated, we see shares as range bound, with downside support coming from the meaningfully raised dividend ($2.60 from $2.00). We remain at Hold and our $65 target is unchanged.” Las Vegas Sands Corp. closed on Wednesday at $60.32.