Will This Price Target Decrease Hurt Las Vegas Sands (LVS) Stock Today?

Story updated at 9:50 am to reflect market activity.

NEW YORK (TheStreet) -- JPMorgan (JPM) lowered its price target for Las Vegas Sands (LVS) to $83 from $89 Thursday, reiterating its "overweight" rating for the casino operator.

Las Vegas Sands fell -1.3% to $72.83 in morning trading.

The firm also lowered its EPS estimates for the company, saying that Macau is falling short of expectations.

Analyst Joseph Greff wrote, "Its Macau results, broadly, were below what we would characterize as fairly low investor expectations, with VIP-hold-normalized adjusted property level EBITDAR margins lower than expected on (1) an unexpected and sizable bonus accrual expenses (only half non-recurring, as these quarterly expenses will continue through 2016 in an effort to retain employees as new competitive Cotai supply opens), (2) an unfavorable mass mix shift, with surprisingly lower premium mass margins (related to competitive pressures), and (3) lower than normal premium mass hold."

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Separately, TheStreet Ratings team rates LAS VEGAS SANDS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate LAS VEGAS SANDS CORP (LVS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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