LVS - Las Vegas Sands: Early Upside Move May Signal More Ahead Than Many Believe
2024-03-13 17:45:17 ET
Summary
- Las Vegas Sands Corp. has had a struggle to reach above $50, despite strong performance in post-COVID Asian markets.
- Las Vegas Sands' FY23 results show significant growth in revenue, net income, profit margin, and EPS.
- The company's market share in Macau has increased, and the Asian gaming outlook for 2024 is speeding towards full pre-COVID recovery.
Above: Macau growth is speeding ahead of many early recovery calls.
We accept what may be some investors' characterization of our bullish outlook on Las Vegas Sands Corp. ( LVS ) this past year as that of a faded broken record. Give the apparent resistance to the stock moving anywhere near my price target ("PT") of $70, it is understandable. The stock has had a real struggle to even reach above $50. In light of the strong performance of the company in post covid Asian markets we now see, the collective shrug of Mr. Market continues to baffle many fans of the stock, including me. Most recent FY23 results could be a very green shoot,...
Las Vegas Sands: Early Upside Move May Signal More Ahead Than Many Believe