Morgan Stanley Raises Price Target on Las Vegas Sands Corp (LVS)

Las Vegas Sands Corp (NYSE:LVS) is among the 10 Best Casino Stocks To Buy Now. Stephen Grambling, a Morgan Stanley analyst, maintained his Equal Weight rating on Las Vegas Sands Corp (NYSE:LVS) and lifted his price objective from $43 to $45 on May 30.

The revision comes after in-line forecasts and better-than-expected Q1 performance. Morgan Stanley also raised forecasts for its Gaming and Lodging coverage, citing mark-to-market adjustments for higher sector multiples.

Improved Q1 performance and valuation revisions in the larger Gaming & Lodging sector are reflected in Grambling’s moderate estimate upgrades. He points out that discounted valuations indicate ongoing market pessimism in the foreseeable future, notwithstanding these corrections.

Although the Equal Weight rating indicates a neutral perspective on the stock’s upside, the $2 increase in Las Vegas Sands Corp (NYSE:LVS)’ objective is consistent with better quarterly results. Despite valuation-based opportunities, the firm’s overall sector perspective indicates a wait-and-see strategy that takes into account both recent earnings strength and caution regarding current investor sentiment.

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