Las Vegas Sands (LVS): Jeffries Going Down With Ship

When Wall Street’s target prices are nuts, what do analysts do? Cut them and say share weakness means a buying opportunity.

Jeffries can’t give up on Vegas now, so the firm cut targets for 3 casino stock targets while reiterating BUYs. The main rationale: the stocks are too low.

Jeffries reiterates BUY on Las Vegas Sands (LVS), target cut from $116 to $93.

Jeffries reiterates BUY on WYNN Resorts (WYNN), target cut from $138 to $116.

Jeffries reiterates BUY on MGM Mirage (MGM), target cut from $102 to $89.

The casino and gaming industry has been among the hardest hit as a recession looms. And the recent stock collapses are surely cyclical. But two vital questions remain: how much is cyclical and when is the bottom?

See Also:
Citi: Don’t Go Near Las Vegas Sands (LVS) or Gaming Industry
Las Vegas Sands (LVS), WYNN Casinos (WYNN), et al: Worst Yet To Come
Gambling Fears Overblown: Las Vegas Sands (LVS), MGM (MGM), and Wynn Resorts (WYNN) Could Double


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