This Analyst Thinks Las Vegas Sands is a Buy Opportunity

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According to Deutsche Bank’s Carlo Santarelli, who wrote a note to clients this past Sunday, Las Vegas Sands Corp. may be a buying opportunity at current levels.

The analyst wrote, “The bearish Macau sentiment has created an opportunistic entry point for medium- to longer-term oriented investors.”

It’s been a turbulent time in gaming mecca Macau as Hong Kong protests continue and the U.S. trade war with China have hit the region’s casinos.

According to Santarelli, Las Vegas Sands has a strong balance sheet and a dividend yield north of 5%. He believes the stock is “predicated primarily on choppy top line trends in Macau, which we believe are largely a function of geopolitical headwinds.”

The analysts expects Macau gaming authority to soon release gross gaming receipts that show a positive trend and that “this cadence will alter what has been decidedly negative Macau sentiment.”

Santarelli has upgraded his rating on the stock from “hold” to “buy.” He also slightly increased his price target from $69 to $70.

Shares of Las Vegas Sands is up 10.5% so fars this year.

Disclaimer: We have no position in Las Vegas Sands Corp. (NYSE: LVS) and have not been compensated for this article.