Credit Suisse Maintains Outperform Rating on Las Vegas Sands (LVS)

Credit Suisse maintained an Outperform rating on Las Vegas Sands (NYSE: LVS) with a price target of $72.00 (from $87.00). Comments follow Q3 results. Analyst Joel Simkins remains positive on the stock.

"LVS reported 3Q14 adj. property EBITDA of $1.28bn vs. consensus of $1.22bn. While there were no major negative surprises, results were generally reflective of softer VIP trends, which were well documented heading into the print. LVS noted that it had completed its previously authorized $2bn share repurchase plan in the quarter, and had subsequently approved an additional $2bn program. Additionally, LVS raised its quarterly dividend 30%, to $0.65, beginning in 2015. We remain positive on continued strength in the mass market growth story, and have adjusted our estimates to reflect the recent slowdown in VIP trends," said Simkins.

"While Japan has been "on and off," at the moment legislative activity looks positive. We believe optimism around Japan should keep investors interested in LVS and other Asia-centric gaming companies," he added.

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 $60.32 yesterday.

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