Las Vegas Sands shares are climbing Monday, on rating upgrade by Deutsche Bank.
Analysts at Deutsche Bank boosted the casino/resort company’s stock to buy from hold.
They also hiked their price target to $70 from $69 – which represents a potential upside of 25% from the stock's closing price on Friday.
Analyst Carlo Santarelli emphasized that Las Vegas Sands currently has a favorable entry point, owing to the largely bearish sentiment towards the Macau gaming market amidst geopolitical headwinds
According to the analyst, Las Vegas Sands has to a large extent priced in the Macau-induced headwinds.
Santarelli belives that the Macau gaming authority will soon release gross gaming receipts that would reveal a positive trend, which turn should propel a turnaround in investor sentiment on Macau.