Stifel Nicolaus Upgrades Las Vegas Sands to Buy (LVS)

Stifel Nicolaus is out with its report today on Las Vegas Sands (NYSE: LVS), upgrading LVS from Hold to Buy.

In a note to clients, Stifel Nicolaus writes, "Given the strong sell-off (20% since its 52 week high on 11/10 vs. S&P +9%), we are upgrading shares from Hold to Buy and establishing a $55 price target which is based off our 2012 sum-of-the-parts. At current levels, we believe investors are baking in a worst-case outcome over the DOJ/SEC investigation. In our view, the current risk/reward case is compelling given continued strong growth in both Macau and Singapore."

Stifel Nicolaus has a $55 PT on LVS.

At the time of posting, shares of LVS were trading pre-market at $43.55, up 3.15% from Thursday's close.