JPMorgan raised the firm’s price target on Las Vegas Sands (LVS) to $62 from $60 and keeps an Overweight rating on the shares. The firm remains confident and optimistic that in Macau, the company’s Londoner renovation disruption will meaningfully abate from here, which should allow the company to achieve above-Macau-peer EBITDA growth in 2025. The firm models roughly $2.8B of Macau property-level EBITDA, or 16% year-over-year growth, and presently views buy-side expectations as reasonable.
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