JPMorgan Upgrades Las Vegas Sands Stock on Singapore Potential
JPMorgan raises Las Vegas Sands to Overweight with $60 target, citing undervalued Singapore operations and stable Macau outlook after recent stock pullback.
• Upgrade Details: JPMorgan analyst Daniel Politzer raised Las Vegas Sands (LVS) from Neutral to Overweight, increasing the price target from $56 to $60
• Key Reasons: The upgrade follows a recent drop in share price and growing optimism about the company's Singapore operations
• Macau Outlook: JPMorgan believes current expectations for Macau, the world's largest gambling hub, are "reasonably positioned"
• Singapore Undervalued: The firm argues the market is undervaluing Las Vegas Sands' Singapore business at just $27 per share when it should be worth around $37
• Investment Opportunity: This $10 per share gap in Singapore's valuation represents significant upside potential for investors
• Bottom Line: JPMorgan sees Las Vegas Sands as an "attractive buy" after the pullback, with Singapore exposure offering hidden value