UPDATE: Stifel Nicolaus Increases Target to $69 on Las Vegas Sands

Stifel Nicolaus raises its target to $69 on Buy-rated Las Vegas Sands

on more potential upside on top of strong YTD share performance. Stifel Nicolaus notes, "While LVS shares have rallied YTD (LVS +36% vs. S&P +11%), we believe there is potential for more upside to come as we inch closer to the Cotai Central opening in early-April. We get the sense investors in general are becoming skeptical of continued share outperformance due to the overly bullish view from the sell-side (21 out of 26 covering analysts have positive ratings), coupled with a stock that is already well owned by the buy-side. However, as we look out over the next 12 months, we believe there are multiple catalysts which should help LVS outperform the market. We are raising our 2012/2013 EPS estimates from $2.65/$3.04 to $2.70/$3.19, respectively." LVS closed at $57.53 a share on Friday.