Analyst, Options Traders Bet on Casino Stock After Earnings

At least one analyst hiked its price target on LVS

Deputy Editor
Jan 25, 2024 at 10:29 AM
facebook X logo linkedin

Shares of Las Vegas Sands Corp (NYSE:LVS) are 0.9% higher at $50.06 at last glance, after the casino and resort giant last night reported fourth-quarter earnings and revenue that topped Wall Street's estimates.  

In response, J.P. Morgan Securities raised its price target to $59 from $56. In its bull note, the analyst said it thinks "LVS 4Q23 results should be viewed favorably in relation to recently subdued investors' expectations and China-macro-concern-driven awful investor sentiment." Coming into today, the majority of analysts were already bullish. In fact, nine of 11 covering brokerages rated LVS a "buy" or better versus two that recommended a tepid "hold." 

Options traders are also weighing in, with Las Vegas Sands stock's normally quiet options pits already seeing four times the average intraday volume. Most popular is the January 2024 50-strike call that expires at the end of tomorrow's session. 

A broader look shows a bullish bias amongst options traders. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OM X PHLX (PHLX), LVS' 50-day call/put ratio of 6.48 ranks in the 93rd percentile of annual readings. This means options traders have preferred calls over puts during the last 10 weeks.

Thanks to today's jump, Las Vegas Sands stock now boasts a 1.6% year-to-date lead, though it remains 9.1% lower over the last 12 months. The equity was able to clear long-term resistance at its 160-day moving average out of the gate today, but has since pulled back below the trendline. However, LVS does boast support from its 120-day moving average, after battling with the trendline since the beginning of the year.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI