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UPDATE: Morgan Stanley Reiterates on Las Vegas Sands Following strong 4Q13 Results


In a report published Monday, Morgan Stanley analyst Thomas Allen maintained an Overweight rating on Las Vegas Sands (NYSE: LVS) and kept the price target at $89. Following strong 4Q13 results, Allen believed that Las Vegas Sands is in a good position for continued growth in 2014.

In the report, Morgan Stanley concluded, "We continue to view LVS as best positioned in Macau and see upside in 2014 driven by i) continued ~30% growth in the mass market and LVS' ability to improve its mass table efficiency, ii) mgmt's additional proactive efforts to optimize table mix (new premium mass area at Cotai Central in 2H14), and iii) the company's ability to cater to improving mass customer mix given its hotel room footprint. Our year-end '14 price target remains at $89 based on a blended 13.7x 2015e EBITDA + $6/share for Parisian. Adding in the $2/share recurring dividend implies a 19% total return."

Las Vegas Sands closed on Friday at $76.52.

Posted-In: Cotai Las Vegas Sands Corp. Morgan Stanley Thomas AllenAnalyst Color Reiteration Analyst Ratings


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