JPMorgan raised the firm’s price target on Las Vegas Sands to $60 from $53 and keeps an Overweight rating on the shares ahead of the Q3 report. The firm is confident that in Macau, the company’s Londoner renovation disruption will meaningfully abate from here, with the newly renovated casino already now open and hotel rooms and other revenue generating inputs opening on a staggered basis in the Q4 and into 2025. This should allow for Las Vegas Sands to achieve above-Macau-peer growth in 2025, the analyst tells investors in a research note. JPMorgan thinks this gives the shares enough momentum “to make this an interesting idea heading into a much better 2025 versus 2024 in Macau.”

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