JPM Raises Estimates, Price Target for Las Vegas Sands (LVS)

JP Morgan analysts Joseph Greff, James Omstrom, and Daniel Yoon reiterated an Overweight rating for Las Vegas Sands LSV. The analysts believe Singapore will be a catalyst for LSV, as margins and non-gaming revenue are both increasing. Meanwhile, the Macau market remains strong. The analysts also said, "With respect to Las Vegas operating trends, we believe demand on the Strip is present and believe 90%+ occupancy levels throughout the summer are achievable. While visitor volumes are showing some signs of strength, we believe rates continue to remain relatively stagnant, but given the easy comparisons, should show modest year-over-year growth." The analysts upped their 2010E EPS from $0.27 to $0.47. 2011E EPS was raised from $0.47 to $0.61. Las Vegas Sands' price target was raised to $30 from $29. Shares are currently trading at $24.37. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.