Sterne Agee CRT Reiterates Buy on Las Vegas Sands (LVS) Following 3Q15

Sterne Agee CRT reiterated a Buy rating and $55.00 price target on Las Vegas Sands (NYSE: LVS) following the company's 3Q15 earnings results. LVS announced a 10.8% increase to its recurring dividend, which now stands at $2.88 per share for CY16, implying a yield 6% based on yesterday’s share price close.

Analyst David Bain commented, "Upside in Singapore offset slightly lower than expected Macau results and would have led to a solid beat adjusted for hold. We believe relatively positive forward commentary (especially post Steve Wynn’s earnings call), an 11% increase to its dividend and the potential for new investor optimism for Singapore versus pre-call sentiment should drive shares higher. We raise CY15/CY16 EBITDA marginally higher and our $55 price target remains."

For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.

Shares of Las Vegas Sands closed at $46.84 yesterday.

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