
Deutsche Bank cuts PT on casino operator Las Vegas Sands LVS.N to $59 from $62; maintains "buy" rating
Brokerage says it sees little reason for "heroic forecasts" at current valuation levels, as shares remain inexpensive
Says a combination of an acceleration in Macau market gross gaming ratio performance, increase in LVS' Macau market share in Q2 and beyond, a cooling geopolitical environment, and/or change in sentiment around the macro-economic picture in China would help LVS shares
New PT still implies ~84% upside to stock's last close
14 of 19 brokerages rate the stock "buy" or higher and 5 "hold"; their median PT is $58 - LSEG data
As of last close, stock down 35.6% YTD