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Friday, December 31, 2010

Las Vegas Sands (NYSE:LVS), Wynn (Nasdaq:WYNN) Up on UBS (NYSE:UBS) Comments on Macau

UBS (NYSE:UBS) reports on record revenue from the Macau gaming market has shares of Las Vegas Sands (NYSE:LVS) and Wynn (Nasdaq:WYNN) soaring today.

For the month of December, UBS sees sales coming in at at a range of $2.31-$2.37 billion. That is close to record sales set in October.

For full year, UBS estimates revenue to have grown by 63 percent to 67 percent year-over-year.

UBS estimates revenue in the fourth quarter to be up over 50 percent over last year, and 15 percent over the previous quarter.

Their top picks in the area are Galaxy and Wynn Macau.

UBS maintains a "Neutral" rating on Las Vegas Sands, which was trading at $45.79, up $1.41, or 3.18 percent, as of 12:27 PM EST. UBS has a price target of $55 on the Sands.

They reiterate their "Buy" rating on Wynn Resorts, which was trading at $103.21, up $1.50, or 1.47 percent, as of 12:27 PM EST. UBS has a price target of $133 on Wynn Resorts.

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