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Las Vegas Sands Shares Up Following Citi's Addition To Its 'Asia Pacific Focus List'

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In a note released Thursday, Citi analyst Anil Daswani reiterated the firms Buy rating of Las Vegas Sands (NYSE: LVS) and has set a price target of $97.

Daswani believes that gross gaming revenue will continue to be driven by the structural demographic story of Macau. Furthermore, Daswani believes that the bottleneck in Macau appears to be hotel rooms and noted that Las Vegas Sands currently owns ~50 percent of the grade-A hotel rooms in Macau.

Additionally, Daswani views the gross gaming revenue mix shift from low-margin VIP to high-margin mass as a continuing benefit to the company.

Daswani commented, "Following the recent share price pullback, we take the opportunity to add LVS to the Citi's Asia Pacific Focus List."

Shares of Las Vegas Sands have risen about one percent to $76.72 following the release of this note.

Latest Ratings for LVS

DateFirmActionFromTo
Apr 2019DowngradesBuyHold
Mar 2019AssumesNeutral
Mar 2019MaintainsOverweightOverweight

View More Analyst Ratings for LVS
View the Latest Analyst Ratings

Posted-In: Anil Daswani CitiAnalyst Color Price Target Reiteration Analyst Ratings

 

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