not vested
Mizuho cuts Las Vegas Sands stock target, maintains buyOn Thursday, Mizuho Securities adjusted its financial outlook for Las Vegas Sands Corp (NYSE:LVS), reducing the price target on the company's shares to $65 from the previous target of $70.
Despite this change, the firm continues to recommend a Buy rating on the stock.
The revision in the price target by Mizuho is rooted in a sum-of-the-parts (SOP) analysis.
The firm applies an 11 times multiple to its estimated 2025 EBITDA for Las Vegas Sands' operations in Macau, which is projected to be around $2.9 billion, resulting in a valuation of $24 per share.
For the company's Singapore segment, a 13 times multiple is used against the forecasted 2025 EBITDA of approximately $2.2 billion, assigning a value of $41 per share.
The analysis also accounts for a corporate or parent company drag, which is estimated to reduce the valuation by $6 per share.
Additionally, the firm incorporates two years of free cash flow (FCF), which adds another $6 per share to the valuation.
Mizuho's approach to setting the price target for Las Vegas Sands is detailed and considers various aspects of the company's financial performance and potential.
The firm's maintained Buy rating suggests a continued positive outlook on the stock, despite the lowered price target.
Source: investing.com
https://www.investing.com/news/company- ... CH-3384989
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