Bank of America Merrill Lynch Has Buy on Las Vegas Sands

Bank of America Merrill Lynch is out with a research report on Las Vegas Sands LVS and it has an Buy rating and a $55 price objective on shares. In a note to clients, Bank of America Merrill Lynch writes, "We have tweaked our ramp-up assumptions for sites 5/6 and believe LVS has a positive catalyst path ahead of it for the next 12 mos. driven by 1) increasing junket market share, 2) the opening of Sites 5/6 and 3) cont'd organic growth in both Macau and Singapore. We continue to see over $3 of EPS power in 2013 and are getting closer as our 2012/2013 EPS go to $2.58/$2.89 from $2.44/$2.64. We maintain our Buy rating." Shares of LVS are up $1.69 in pre-market trading to $47.09.