UPDATE: Morgan Stanley Reiterates Overweight Rating, Lowers PT on Las Vegas Sands Corp. Following Solid Macau Results

In a report published Thursday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating on

, 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.