UPDATE: Susquehanna Raises PT on Las Vegas Sands Ahead of 3Q13 Earnings Report

In a report published Wednesday, Susquehanna International Group analyst Rachael Rothman reiterated a Positive rating on

, and raised the price target from $66.00 to $80.00. In the report, Susquehanna International Group noted, “LVS will report 3Q13 earnings after the close on 10/17. We expect LVS to report 3Q13 property-level EBITDA of $1,941 mln versus consensus of $1,928 mln. We expect a muted move in shares with short interest half a standard deviation below the T6M average and shares already up 27% since the company reported 2Q earnings. We remain Positive on LVS shares as we expect the continued strength of Macau monthly gaming revenues and improving macro trends in China to buoy shares in the near term. In the medium-to-long term, we view the continued buildout of infrastructure improvements as a tailwind for driving increased visitation to Macau. With the largest mass footprint in Macau, LVS is best positioned to take advantage of this secular trend. We are raising our 2013E and 2014E EPS to $2.90 and $3.42, respectively. Our price target goes to $80 from $66 and is based on 20x our blended 2014E and 2015E EPS plus $4 of equity value for Cotai Site 3.” Las Vegas Sands Corp. closed on Tuesday at $69.11.