Deutsche Bank analyst Carlo Santarelli last night upgraded Las Vegas Sands to Buy from Hold with a price target of $70. Bearish Macau sentiment has created an opportunistic entry point for medium to longer term investors, Santarelli tells investors in a research note. The analyst believes the shares at current levels do not reflect Las Vegas Sands' "fortified" balance sheet and capital return story. Santarelli attributes Macau's "choppy" trends to geopolitical headwinds and he expects positive Macau gross gaming revenue comparisons in the near term.