As confirmed by May’s gross gaming revenue (GGR) report, the Macau recovery continues. But analysts have their individual preferences among the related equities.
In a note to clients on Thursday, Macquarie analyst Chad Beynon said Sands China parent Las Vegas Sands (NYSE: LVS) remains the firm’s top Macau idea. He reiterated an “outperform” rating and a $70 price target on the stock. That implies upside of 26.2% from today’s close.
In Macau, LVS is well positioned given its critical mass of supply, recent investments (Londoner), industry market share (20-25%) and industry-leading margins,” wrote Beynon.
Earlier Thursday, Macau authorities revealed the six concessionaires there combined to win $1.93 billion in May, good for the gaming industry’s best monthly tally in Chinese territory since January 2020. That report, coupled with Beynon’s note, arrived none too soon for Sands as the stock tumbled nearly 13% over the past month.
In a note to clients on Thursday, Macquarie analyst Chad Beynon said Sands China parent Las Vegas Sands (NYSE: LVS) remains the firm’s top Macau idea. He reiterated an “outperform” rating and a $70 price target on the stock. That implies upside of 26.2% from today’s close.
In Macau, LVS is well positioned given its critical mass of supply, recent investments (Londoner), industry market share (20-25%) and industry-leading margins,” wrote Beynon.
Earlier Thursday, Macau authorities revealed the six concessionaires there combined to win $1.93 billion in May, good for the gaming industry’s best monthly tally in Chinese territory since January 2020. That report, coupled with Beynon’s note, arrived none too soon for Sands as the stock tumbled nearly 13% over the past month.