UPDATE: Brean Capital Initiates Coverage On Las Vegas Sands On Good Market Position

In a report published Thursday, Brean Capital analyst Bryan Maher initiated coverage on Las Vegas Sands Corp. (NYSE: LVS) with a Buy rating and $65.00 price target.

In the report, Brean Capital noted, "We believe Las Vegas Sands has developed into the best-positioned gaming company to deal with today's industry challenges. In Macau, which is challenged by the absence of VIP players due to an anti-corruption crackdown, the company (through its 70.3% ownership stake in Sands China) is geared heavily toward the mass market players with its Venetian Macao, Sands Cotai Central and, in 2016, The Parisian Macao. In Singapore, the company developed the iconic Marina Bay Sands, which generated a staggering $1.7B in EBITDA in 2014. In Las Vegas, the company's MICE business consistently pulls in weekday business, while its Grand Canal Shoppes draw leisure visitation on weekends. Lastly, its Sands Bethlehem property is very well positioned to capture a large share of the North Jersey and NYC markets."

Las Vegas Sands closed on Wednesday at $54.80.