In a report published Thursday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating on Las Vegas Sands Corp. LVS, but lowered the price target from $72.00 to $71.00.
In the report, Morgan Stanley noted, “Macau results beat expectations despite concerns that expense pressures would lead to a miss, but margin pressure in premium mass is more forward looking and limits upside. We expect a positive reaction on the removal of the bear miss but lower PT to $71; reiterate LT OW but ST concern.”
Las Vegas Sands Corp. closed on Wednesday at $60.32.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsCasinos & GamingConsumer DiscretionaryMorgan StanleyThomas Allen
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