BofA raised the firm’s price target on Las Vegas Sands to $66 from $62 and keeps a Neutral rating on the shares, stating that Macau "beat all expectations" in Q1 and Singapore hold adjusted EBITDA was slightly ahead of expected, driven by accelerating trends within its mass segment. After the Macau segment was a "beat on all fronts," the firm is raising estimates, but it thinks strong trends are offset by high recovery expectations that are already factored in.
Published first on TheFly
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