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LVS

Las Vegas Sands

$54.52

0.26 (0.48%)

06:36
12/22/16
12/22
06:36
12/22/16
06:36

Las Vegas Sands initiated with a Buy at Aegis

Aegis analyst David Bain initiated Las Vegas Sands with a Buy and a $60 price target. He believes the new Parisian casino resort will ramp faster than competitor openings, solidifying the Macau portfolio at the right time in the Macau recovery, its duopoly position in Singapore offers Asian gaming diversification and stable cash flow for dividend payouts, and the 5.3% dividend yield limits downside.

LVS Las Vegas Sands
$54.52

0.26 (0.48%)

12/09/16
SBSH
12/09/16
NO CHANGE
SBSH
Citi views yesterday's Macau selloff as overdone
Citi analyst Anil Daswani believes the selloff yesterday in shares tied to gaming in Macau is overdone. Neither VIP nor premium mass players use UnionPay as their primary method to access cash in Macau, Daswani tells investors in a research note, citing his understanding of the rules. He points out that the use of junkets allows VIP players to play in Macau without physically carrying cash across the border. More importantly, premium mass players access cash mainly by transferring cash from a foreign bank account or by making purchases with their UnionPay cards and converting those purchases into cash, Daswani adds.
12/13/16
BERN
12/13/16
NO CHANGE
BERN
Checks show Macau GGR grew meaningfully this month, says Bernstein
Bernstein analyst Vitaly Umansky says the firm's checks indicate that from December 1-11 Macau's average daily gross gaming revenue rose 10% versus last month and about 20% versus the same period a year earlier. Umansky says that the region's December GGR is on track to jump 12%-14% year-over-year. However, he adds that breakdowns between VIP and non-VIP, along with market share data, are not available, causing him to be a bit skeptical about the data. Macau casino owners include Melco Crown (MPEL), Wynn Resorts (WYNN), Las Vegas Sands (LVS), and MGM Resorts (MGM). The analyst keeps an Outperform rating on Melco Crown.
12/14/16
STFL
12/14/16
NO CHANGE
STFL
Macau outlook has improved, says Stifel
After conducting checks in Macau, Stifel analyst Steven Wieczynski says that casino operators appear to be much more upbeat about the market and its longer term outlook. The analyst is now much more bullish about the region's 2017 outlook. He adds that all of the operators with whom he spoke do not expect the change in UnionPay withdrawal limits to have a significant effect on their businesses. Wieczynski says that the casinos' non-VIP business remains healthy, while the VIP business could rebound more quickly than the market currently expects in 2017 . He keeps Buy ratings on Las Vegas Sands (LVS) and MGM (MGM) and a Hold rating on Wynn (WYNN). Melco Crown (MPEL) also owns casinos in Macau.
12/15/16
GSCO
12/15/16
INITIATION
Target $68
GSCO
Conviction Buy
Las Vegas Sands initiated with a Conviction Buy at Goldman
Goldman analyst Stephen Grambling initiated Las Vegas Sands with a Conviction Buy and a $68 price target. The analyst believes Las Vegas Sands is best positioned to benefit from secular growth in the Mass market in Macau and sees meaningful margin expansion as The Parisian ramps. Further, Grambling believes Las Vegas Sand' owned real estate portfolio in Asia is underappreciated by the market.

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