Las Vegas Sands drops after UBS downgrades to "neutral"
** Shares of Las Vegas Sands LVS.N down 1.4% at $40.51 on Fri after UBS downgrades casino operator to "neutral" from "buy"
** Brokerage slashes PT from $70 to $49
** 16 of 20 brokerages rate LVS "strong buy" or "buy", rest recommend "hold" and median PT is $54, per LSEG
** With move on the session, LVS down ~18% YTD vs S&P 500 Casinos & Gaming index's .SPLRCCCGL ~16% decline
** In comparison, S&P 500 Consumer Discretionary index .SPLRCD up ~6% in 2024
** Shares of rivals mixed on Fri: Wynn Resorts WYNN.O off 0.2%, while MGM Resorts International MGM.N up 0.5% and Caesars Entertainment CZR.O ~4%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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