- Morgan Stanley analyst Stephen W.Grambling reiterated an Overweight rating on the shares of Las Vegas Sands Corp (NYSE:LVS) and a price target of $53.
- LVS reported Q4 results after the market close yesterday, beating the analyst’s expectations on a hold-adjusted basis.
- The company also outlined $3.8 billion in concession-related spend over the next 10 years, with $2.7 billion allocated to capital projects and $1.1 billion to operating commitments, the analyst cited.
- The management commentary on the conference call remained constructive, said the analyst. Singapore continued to build, and the Macau recovery is underway, led by higher spend/visitor.
- LVS is now generating positive EBITDA in Macau and management highlighted visitation trends in their properties are outpacing the market, cited the analyst.
- Importantly, if stronger spend / visitor holds as visitation comes back, flow through could push margins higher than pre-COVID, added the analyst.
- The analyst specified that when combined with sustained momentum in Singapore, fundamentals are trending toward the Bull case within the risk-reward framework.
- Also Read: Las Vegas Sands Options Traders Betting On Stock Rising This Much By Next Friday
- Price Action: LVS shares are trading higher by 4.87% at $57.70 on the last check Thursday.
- Photo Via Company
On May 2 Kernel Group Holdings Received Notice Of Delisting Or Failure To Satisfy Continued Listing Rule Or Standard; Company Has A Period Of 180 Calendar Days From The Date Of The Notice, Or Until October 29, 2024, To Regain Compliance With The Market…
On May 2, 2024, Kernel Group Holdings, Inc. (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the
