LVS Gains after New Buy Rating from Analyst

Shares of Las Vegas Sands (NYSE:LVS) are higher in today’s trading session. This is likely attributable to new coverage from analyst Ed Engel from Roth MKM, who issued a Buy rating with a price target of $74.

Engel is optimistic about LVS’ operations in Macau, a region in China known as the “Las Vegas of Asia.” He believes that “…Macau is in the early innings of a multi-year growth cycle…” Engel also noted that he anticipates Las Vegas Sands’ EBITDA in 2024 to exceed 2019’s figures by 10%.

Overall, Wall Street has a consensus price target of $66.23 on LVS stock, implying 16.79% upside potential, as indicated by the graphic above.

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