Morgan Stanley raised the firm’s price target on Las Vegas Sands to $69 from $64 and keeps an Overweight rating on the shares after the company reported Q1 results that beat the firm’s and consensus expectations "handily," underpinned by quicker recovery in Macau, share gains in premium mass, better cost control, and momentum in Singapore. The firm, which adds that it came away "more positive" post the Q1 call, raised its FY23 and FY24 EBITDA estimates by about 14% and 11%, respectively.
Published first on TheFly
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- Las Vegas Sands price target raised to $71 from $69 at JPMorgan
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