NEW YORK (TheStreet) -- Shares of Las Vegas Sands (LVS) are declining, down 0.66% to $55.74 in early market trading Wednesday, after the casino company had its price target lowered to $60 from $67 this morning by analysts at FBR Capital Markets.
Analysts at the investment firm cited the 20% decline in Macau gross gaming revenue in November as well as a "soft" first week of December. Macau is the only region in China where casinos are legal.
FBR says that despite reduced investor expectations, it remains "wary" of Macau exposure giving a lack of visibility into a bottom.
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FBR analysts also cuts its estimates for two other casinos, MGM Resorts (MGM) and Wynn Resorts (WYNN) . The firm lowered its price target for MGM to $30 from $35, and cut its price target for Wynn to $165 from $195.
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 a number of strengths, 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, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."