LVS
Citi says the runway still looks long
Las Vegas Sands just got a fresh vote of confidence from Citigroup, which lifted its price target to $78.50. For a casino operator, that’s basically Wall Street saying, “The chips aren’t all pushed to the middle yet.”
Why investors care
This isn’t happening in a vacuum. The company also posted a better-than-expected quarter, with EPS of $0.85 versus $0.77 expected and revenue of $3.65 billion versus $3.33 billion expected. Revenue climbed 26% year over year, which is a pretty loud reminder that the Macau and Singapore machine can still hum when it wants to.
The side plot: insiders were selling
There was also a little executive soap opera on the tape: CEO Patrick Dumont sold 60,165 shares on March 17 for about $3.29 million, trimming his stake by 10.52%. Insiders still own roughly 1.20% of the company, so this is more “worth noting” than “sound the alarms,” but traders do love turning every insider move into a narrative.
Big picture
The bull case here is pretty simple: LVS is beating estimates, analysts are getting warmer, and the stock still has room to run if the casino recovery story keeps holding up. The market’s basically asking one question now: is this a one-good-quarter story, or the start of a longer stretch of luck?