NEW YORK (TheStreet) -- Shares of Las Vegas Sands Corp. (LVS) closed down 2.28% to $58.31 after Credit Suisse downgraded the Las Vegas Sands' subsidiary Sands China today to "neutral" with a price target of HK$53.8.
The developer of resorts and destination properties has lost a big hand in the Macau gaming sector, analysts said.
"Gaming names have rallied 20% from their bottom on the hope that the worst is behind," analysts said, adding, "However, the absence of a significant recovery in revenue trend and mass market potentially shows the first ever year-over year decline since 2009, and may trigger another round of earnings downgrades and concerns about new supply."
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Separately, TheStreet Ratings team rates LAS VEGAS SANDS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate LAS VEGAS SANDS CORP (LVS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."