BofA analyst Shaun Kelley raised the firm’s price target on Las Vegas Sands to $62 from $55 and keeps a Neutral rating on the shares after the company reported Q4 headline results that missed expectations "due entirely to low VIP hold in Singapore." Management’s positive tone and comments regarding the Chinese New Year recovery in Macau was the "key incremental" takeaway from the report, said the firm, which expects investors to look through headline results and is raising its own forecasts "significantly" due to a faster cadence of recovery in Macau and higher mass market and non-gaming spending in Singapore.
Published first on TheFly
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