BUZZ-Casino operator Las Vegas Sands down on softer Macau results

Reuters04-18

** Shares of casino operator Las Vegas Sands Corp down 3.7% at $48.4 premarket

** LVS on Wednesday reported Q1 profit above estimates, but at least three brokerages cut PT on the stock citing weakness in Macau operations

** Brokerage J.P. Morgan cuts PT to $55 from $59, says while Q1 results out of Singapore were better than expected, results out of its Macau operations were a lot softer than expected

** Jefferies cuts PT to $53 from $54, says renovation disruptions weighed on Macau margins and pressures are expected to continue through the end of year

** Wells Fargo cuts PT to $60 from $62, says Q1 a two-sided quarter with Macau capex disruptions offsetting Singapore upside

** Seventeen of 19 brokerages rate the stock "buy" or higher, two "hold"; their median PT is $62 - LSEG

** Up to Wednesday's close, stock had risen ~2% YTD

(Reporting by Kannaki Deka)

((Kannaki.Deka@thomsonreuters.com))

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