Las Vegas Sands Shows Solid Results

Las Vegas Sands (NYSE: LVS) posted adjusted property EBITDA of $473.5M on $1.59B net revenue, whereas Hudson Securities expected only $415.1M adjusted property on net revenues of $1.65B.

Key investment points are very strong in Macau at $302.2M (32.1M above estimate), moderate in Las Vegas (mentioned above) and strong in the margins in Singapore, where the Marina Bay Sands posted $216.4M after 65 days of operation, which was $141.2M below expectations by Hudson Securities.

Hudson has set the price target at $34, with the stock rating at "buy".

Las Vegas Sands closed yesterday at $25.28