[美股]【LVS 交流专区】拉斯维加斯金沙集团 Las Vegas Sands Corp

葉芬

By Citi, September 17 - Page 29

Las Vegas Sands (LVS)
Initiate at Sell: Marina Bay Sands — A Bubble Set to Burst
SELL, Target price US$13.00

Selling the Crown Jewels — LVS currently generates over 71% of its EBITDA from Macau. While a spin-off of LVS' Macau assets (the crown jewels) will remove any covenant issues, the stock looks fully priced at 15.3x 2010E EBITDA. The growth is in Macau and investors could soon participate directly; Singapore may disappoint heady market expectations; and in Vegas we see LVS losing market share to CityCenter. In short: Why own this name? We initiate coverage with a Sell (3S) rating and a target price of US$13.00.

Singapore Irrational —Although we like the long-term potential for LVS' Marina Bay Sands casino in Singapore, the market seems to be pricing in expectations we cannot get close to. And that is even if we assume every single visitor to Singapore visits the casino once a year (33% visitor growth in 2009E–11E) and every eligible Singaporean (>21 years) goes to the Integrated Resort 5x a year and out-spends the average visitor in Macau.

Upside from Fund-Raising? — Giving LVS the benefit of the doubt, we model in a 49% spin-off of the Macau operations at 13x 2010E EBITDA. In our base case, the group can pay off up to US$1bn of corporate debt, leaving the Macau subsidiary with only US$1.4bn in net debt. But success in fundraising could be a double-edged sword, as LVS might be sufficiently resourced to rekindle sites 5–6, again stoking supply concerns in Macau.

Vegas Is About REVPAR — 72% of LVS' Vegas revenue is from non-gaming sources. REVPAR is still 35% below peak; we see no near-term turnaround.

In our opinion, LVS, which is set to undergo a spin-off of its Macau operations later this year, is selling its key growth assets in Asia. We are positive on the outlook for Macau gaming and with >71% of LVS’ EBITDA generated from Macau, we believe LVS is selling only because its balance sheet is so overstretched and in order to restart what we see as its overly ambitious Macau construction projects. We believe we are also being sufficiently bullish with our forecasts in Macau and believe our estimates are actually ahead of consensus.

But at the other end of the spectrum we believe we are below consensus in Singapore where market expectations are high (and getting higher) for LVS' latest casino, Marina Bay Sands (MBS). If current market estimates are believed, then MBS will be the most profitable casino in the world in its first full year of operations (2011), despite Singapore being a fledgling gaming market. We believe MBS, and the Singapore Integrated Resort generally, could potentially take significantly longer than is currently forecast to achieve critical mass, but we do not factor this risk in. Even on our assumptions, MBS will contribute 20% of the company’s total EBITDAR in its first full year, equivalent to the Venetian Macau, which would have been operational for 5 years by then.

葉芬

Las Vegas Sands Corp. (LVS) Support and Resistance Levels - 9/21/09

Resistance Levels - $20.73, $25

Support Levels - $17.54, $14





Las Vegas Sands Corp. (LVS) is pulling back after hitting the $20 price target. $20.73 now becomes resistance going forward. I would be a buyer of LVS at the 10 day moving average for a bounce trade but would be a buyer for a long term position at the 50 day moving average.

韦一笑

最近这股起很厉害。。。今晚你们这么看？

巨大的西瓜

Last Trade: 17.40
Trade Time: 4:00pm ET
Change:  1.34 (7.15%)
Prev Close: 18.74
Open: 18.90
Bid: N/A
Ask: N/A
1y Target Est: 15.93
Day's Range: 16.94 - 19.01
52wk Range: 1.38 - 39.88
Volume: 59,385,958
Avg Vol (3m): 42,997,300
Market Cap: 11.49B
P/E (ttm): N/A
EPS (ttm): -0.87
Div & Yield: N/A (N/A)


HAIZ.....

Minerva

Las Vegas Sands (LVS) Should Bottomed Out Now Posted on 09/25/09 at 9:43am


Shares of Las Vegas Sands Corp. (NYSE: LVS) have opened sharply down today in early morning trade and touched a low of $16.1 and now trades $17.01. Yesterday I recommended to buy Las Vegas Sands Corp. (NYSE: LVS) at $16.80, now I strongly feel that LVS should jumped up  now with a target of $19.80. Then there will be a strong resistance at $19.98, if it crosses then it should move up further to kiss $20.90. Yesterday, I noticed that over around 1 million shares were traded in very few numbers of transactions when it was trading at around $17.10. So you can Buy Las Vegas Sands Corp. (NYSE: LVS) now.

葉芬

Las Vegas Sands Corp. (LVS) Support and Resistance Levels - 9/28/09

Resistance Levels - $18.58, $20, $20.73

Support Levels - $16.80, $13.84






Las Vegas Sands Corp. (LVS) has closed below the 10 day moving average for 2 straight trading sessions. During the prior two sell offs, LVS has closed back above the 10 day moving average on the 3rd day. If LVS cannot get back above the 10 day on Monday, we could be setting up for a bigger sell off. LVS has support at the 50 day moving average ( currently at $13.84 ) which would be a strong buy. Resistance is located at $18.58 and $20.

葉芬

http://daytradingstockblog.blogs ... october-5-2009.html


Las Vegas Sands Corp. (LVS) - LVS had a successful retest of the 50 day moving average on Friday. The stock touched it during the morning trading session and then had a huge snap back rally. I continue to like pullbacks below $15, they are a strong buy in my book.

ng33

474173/008

LAS VEGAS SANDS

01/10/2009

06/10/2009

C

US$15.700

1,000

明天会如何呢。。。。。？

葉芬

Las Vegas Sands Corp. (LVS) - Keep an eye on the 10 day moving average at $17.35, this is the new resistance level going forward. Since the the 50 day moving average was hit on Friday, LVS has gone up $3 so I'd expect there to be some major selling near the 10 day. If LVS can get a few solid closes over the 10 day, this would set up a retest of $20. Pullbacks under $15 continue to be a strong buy going forward.

TheMuppet

感觉炒家又回来了。我很确定之前$17-$20是被炒起来的。很快的有又将会是进货的好时机。

葉芬

原帖由 TheMuppet 于 6-10-2009 08:45 PM 发表
感觉炒家又回来了。我很确定之前$17-$20是被炒起来的。很快的有又将会是进货的好时机。

$15?

希望 。

bigman

我也希望呀。。。。但今天起了6.5%啦

TheMuppet

安啦. 我个人很不看好整个赌业. 详情我就不多说啦. LVS可以玩, 但是take profit button随时要准备按下去.

葉芬

Las Vegas Sands Corp.
(Public, NYSEVS)

16.93 -1.01 (-5.63%)
After Hours: 16.88 -0.05 (-0.30%)
Oct 15, 7:59PM EDT

seawolf

我投机这股近几个月了，波动还不错，主要都是卖空，因为上得离谱，所以最好就是每上到一个价位我就卖空压它，投机客不妨看看这股。偶尔也可买升，但卖空的赢面较大。

葉芬

Las Vegas Sands Corp. (LVS) Support and Resistance Levels - 10/19/09

Resistance Levels - $18.84, $20.73, $25

Support Levels - $15.91, $14.38





Las Vegas Sands Corp. (LVS) is having another retest of the 50 day moving average. This has been a solid support level over the past 3 months so i'd expect it to hold and be a great buying opportunity. An actual close below this level would be bearish.

On the upside, resistance is located at the 10 day moving average as well as the recent high of $18.84.

葉芬

111111111111

bigman

原帖由 葉芬 于 19-10-2009 04:02 PM 发表
111111111111

芬姐给什么暗号？？？？

葉芬

原帖由 bigman 于 20-10-2009 11:53 PM 发表




芬姐给什么暗号？？？？

沒什麼暗號啦，別太敏感。。
佳禮卡帖卡得太厲害了。。。

仙家大炮王

据彭博资讯(Bloomberg News)报导，拉斯维加斯金沙集团股份有限公司(Las Vegas Sands Co., LVS)可能寻求筹集至多20亿美元资金，用于重启在澳门的赌场项目。     彭博资讯援引金沙集团首席营运长Michael Leven的话称，该公司计划在10月底以前获得贷款机构的信贷承诺。     他补充称，该项目对金沙集团在澳门实现扩张、甚至脱颖而出至关重要。     受收入增长放缓和信贷市场在金融危机期间冻结影响，金沙集团在澳门项目被迫中断。