As previously reported, Morgan Stanley analyst Thomas Allen upgraded Las Vegas Sands (LVS) to Overweight from Equal Weight, saying he now expects Macau gaming revenue to grow at a 10% compound annual growth rate through 2022 given China’s transition to a high-income economy, continued development and improving infrastructure.

Allen has also upgraded his Macau Gaming industry view to Attractive, citing his expectation for concession renewals in 2020 and 2022 to be “relatively seamless.”

He raised his price target on Las Vegas Sands shares to $72 from $65 and also maintains Overweight ratings on MGM Resorts (MGM ) and Wynn Resorts (WYNN).
 

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