CBRE analyst John DeCree upgraded Las Vegas Sands to Buy from Hold with a price target of $68, up from $47, after the company sounded "an upbeat tone on the initial recovery in Macau" along with its Q4 earnings report. The firm’s new price target is driven by higher estimates in both Macau and Singapore and a higher multiple in Macau as the recovery there takes hold, the analyst tells investors in a research note.
Published first on TheFly
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