NEW YORK ( TheStreet) -- Carnival ( CCL), Wynn Resorts ( WYNN), Las Vegas Sands ( LVS) and Shuffle Master ( SHFL) were the subjects of mixed broker action on Tuesday. Analysts at Deutsche Bank upgraded Carnival to buy from hold, maintaining a $57.50 price target.
Carnival's better-than-expected quarterly report in which it grew profits 28.5% year-over-year and forecast a 3% to 4% increase in constant dollar net revenue yields for the full year 2011. Casino behemoths Las Vegas Sands and Wynn Resorts were upgraded Tuesday as international growth opportunities are expected to remain fruitful for the gaming industry. Wynn received a boost from KeyBanc Capital Markets to hold from underweight and raised its earnings estimates. Analyst Dennis Forst said the casino operator will likely continue to see strength in Macau through 2011. On Monday, the Chinese gambling enclave reported a 66% surge in gaming revenue in December, and analysts predicted the region could see a record month in January or February.
Sterne Agee analyst David Bain reiterated his buy rating on Las Vegas Sands and lifted his estimates and price target. Las Vegas Sands ended the trading day on Monday down nearly 1%, despite strong numbers out of Macau.
StockPickr recently tapped Shuffle Master as a potential breakout stock, though conceded that Wynn and Las Vegas Sands fared better in 2010. "I mention WYNN and LVS because I think Shuffle Master is about to play catch-up since the casino complex has become a market leading sector," wrote trader Roberto Pedone. Shares of Shuffle Master slid 7.9% to $10.71 on Tuesday afternoon amid heavier-than-normal volume. Carnival gained 0.4% to $47, Wynn added 3% to $112.20 and Las Vegas Sands bid up 3.7% to $47.28. -- Written by Miriam Marcus Reimer in New York. >To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: firstname.lastname@example.org.
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