Las Vegas Sands Analysts Cut Their Forecasts After Q1 Results
Portfolio Pulse from Priya Nigam
Las Vegas Sands Corp. (NYSE:LVS) reported Q1 financial results surpassing analyst expectations with adjusted earnings of 75 cents per share and quarterly sales of $2.96 billion, marking significant year-over-year growth. Despite positive results, shares fell 7.2% following the announcement. Analysts from JP Morgan, Wells Fargo, and Mizuho adjusted their price targets downwards while maintaining positive ratings.
April 18, 2024 | 1:38 pm
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Las Vegas Sands exceeded Q1 earnings and sales forecasts, yet its stock price fell 7.2% after analysts lowered their price targets.
The negative short-term impact on LVS's stock price is likely due to the market's reaction to analysts lowering their price targets despite the company's strong Q1 performance. This suggests that while the fundamentals are strong, investor sentiment may be swayed by the adjustments in expectations.
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