2024-01-28 09:24:28 ET
Summary
- Las Vegas Sands' stock price remains stagnant despite strong post-COVID performance in Macau and Singapore.
- Q4 2023 Adj EBITDA was $640m, with total revenue for the year exceeding $10.37b.
- Macau's total gross gaming revenue for 2023 reached $22.7b, with forecasts of $30b for this year.
Above: Marina Bay Sands is destination for above average player base.
The Las Vegas Sands Corp.'s (LVS) price puzzle continues to elicit shrugs or indifference from Mr. Market despite a rollout of post-covid performance one would think spectacular enough to move the stock much nearer to our price target of $70. Its price had been a head scratcher to me all these many months since it was paroled out of covid prison by the skyrocketing recovery in its two markets: Macau and Singapore. I am not, nor have I been, alone. An examination of 12 analyst reports continue to guide between BUY and STRONG BUY citing the many catalysts forming ahead....
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Las Vegas Sands: Post-Covid Ramp Has Yet To Ignite Major Price Recovery