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Downgrade Alert for Las Vegas Sands (LVS)
Jan 31, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Las Vegas Sands (NYSE:LVS) was downgraded from Buy to Hold at Craig-Hallum today. The stock closed yesterday at $51.56 on volume of 9.5 million shares, above average daily volume of 7.1 million. Las Vegas Sands Corp. owns and operates the Venetian Casino Resort and the Sands Expo and Convention Center in Las Vegas, Nevada, and the Sands Macao Casino in Macau, China. The Company is also in the process of developing the Palazzo Casino Resort in Las Vegas and the Macao Venetian Casino Resort in Macau. Las Vegas Sands is also seeking to develop gaming properties in other countries.
Las Vegas Sands share prices have moved between a 52-week high of $62.09 and a 52-week low of $34.72 and closed yesterday at 49% above that low price at $51.56 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.3%.
There is potential upside of 6.4% for shares of Las Vegas Sands based on a current price of $51.56 and an average consensus analyst price target of $54.84. The stock should discover initial support at its 50-day moving average (MA) of $48.00 and subsequent support at its 200-day MA of $45.98.
SmarTrend recommended that subscribers consider buying shares of Las Vegas Sands on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.22. Since that recommendation, shares of Las Vegas Sands have risen 11.6%. We continue to monitor LVS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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