Las Vegas Sands price target lowered to $64 from $65 at Wells Fargo

Wells Fargo lowered the firm’s price target on Las Vegas Sands to $64 from $65 and keeps an Overweight rating on the shares. The firm notes Las Vegas Sands reported in-line EBITDAR on a hold-adjusted basis, with favorable Singapore hold offsetting unfavorable Macau hold. Macau EBITDA is back to 88% of 2019 on solid margins as Macau’s recovery continues to buck China macro, Wells adds.