Deutsche Bank analyst Carlo Santarelli raised the firm’s price target on Las Vegas Sands to $74 from $69 and keeps a Buy rating on the shares. The company reported "meaningfully stronger-than-expected" results in Macau, which will further allow the inventors to embrace the higher margin profile in the market upon gross gaming revenue normalization, the analyst tells investors in a research note. The firm continues to believe labor levels, the VIP gaming margin profile, and the gaming revenue mix, will add meaningfully to Las Vegas Sands’ EBITDA and property margins.
Published first on TheFly
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