Jefferies Maintains Hold Rating, $45 PT on Las Vegas Sands

Jefferies reports that it is maintaining its balanced stance on Las Vegas Sands Corp. LVS shares “due to the prospective complications that could result from the operator's ongoing regulatory investigations, however we believe that the company has undertaken some key strategic initiatives, particularly in Macau, that could deliver meaningful upside to the three properties' profitability if properly executed over the next 18 to 24 months.” “Importantly, we also continue to view LVS' positioning within the Singapore market favorably, although we will be watching closely as that market continues to evolve and the company's competitor further diverges in strategy and value proposition from that of LVS,” Jefferies writes. “We are maintaining our HOLD rating on LVS shares with a price target of $45.” Las Vegas Sands closed Friday at $41.38.