UPDATE: Citi Lowers PT on Las Vegas Sands to $54.50 (LVS)

Citi is out with its report today on Las Vegas Sands LVS, lowering its price target from $55 to $54.50. In a note to clients, Citi writes, "LVS plunged 6.3% overnight, whilst Sands China is down 6.4% by 3:02PM HK time on the disclosure in the 10-K that the parent company has received a subpoena from the SEC requesting that the company produce documents relating to its compliance with the Foreign Corrupt Practices Act. We trim our target price from $55 to $54.50." At the time of posting, shares of LVS were trading pre-market at $43.60, down 0.23% from Tuesday's close.