Las Vegas Sands price target raised to $70 from $69 at Stifel

Stifel raised the firm’s price target on Las Vegas Sands to $70 from $69 and keeps a Buy rating on the shares. The fact that shares are “essentially trading at levels that were witnessed during the start of the pandemic” when the Macau and Singapore markets were being shut down “makes no sense to us” given that these markets are essentially back to pre-pandemic levels, the analyst tells investors. With shares now trading about 30% below their historical trading range, and “no signs the Macau/Singapore markets are going to slow anytime soon,” the firm believes shares “should be able to outperform their domestic gaming peers by a wide margin,” the analyst added.