After Merrill Lynch and Jefferies gave Las Vegas Sands (NYSE: LVS) a Buy rating last month, the company received another Buy, this time from Deutsche Bank. Analyst Carlo Santarelli reiterated a Buy rating on Las Vegas Sands today and set a price target of $58.00. The company’s shares closed last Wednesday at $45.94.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 7.0% and a 59.9% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Hilton Worldwide Holdings, and Marriott International.
Currently, the analyst consensus on Las Vegas Sands is a Moderate Buy with an average price target of $56.58, representing a 23.3% upside. In a report issued on October 13, Wolfe Research also maintained a Buy rating on the stock with a $65.00 price target.
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Based on Las Vegas Sands’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $98 million and GAAP net loss of $820 million. In comparison, last year the company earned revenue of $3.33 billion and had a net profit of $954 million.
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Las Vegas Sands Corp. engages in the development of destination properties. Its properties feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants, and other amenities. It operates through the following geographic segments: Macao, Singapore, and United States. The Macao segment handles the operations of The Venetian Macao; Sands Cotai Central; The Parisian Macao; The Plaza Macao and Four Seasons Hotel Macao; and Sands Macao. The Singapore segment includes the Marina Bay Sands. The United States segment consists of Las Vegas Operating Properties and Sands Bethlehem. The company was founded by Sheldon G. Adelson in August 2004 and is headquartered in Las Vegas, NV.
