Las Vegas Sands price target lowered to $55 from $65 at Stifel

Stifel lowered the firm’s price target on Las Vegas Sands to $55 from $65 and keeps a Buy rating on the shares. Singapore continues to hold the story together, says the firm, which doesn’t see how Las Vegas Sands shares will really work until at least Q4, which is the timeframe when the majority of their assets will be back in operation. Until then, the company “will probably continue to bleed away market share which won’t be an easy narrative to sell given an already skittish investor mindset,” adds the analyst, who argues that “the risk/reward is too favorable to ignore” with expectations and valuation “massively depressed and a Singapore asset that we think is still worth mid-$30s/share.”