By Market News Video Staff, Thursday, October 28, 12:31 PM ET
Following strong earnings from the Las Vegas Sands (NYSE:LVS), Barclays raised its price target on the casino operator to $52 per share. The firm maintained its overweight rating, while noting that the company's presence in Macau and Singapore should continue to fuel earnings growth. Shares of LVS are higher by more than 8% on Thursday, despite the general markets being modestly lower.
Strength from LVS is lifting the entire sector today and this strength can best be seen in the Market Vectors Gaming ETF (AMEX:BJK) which is higher by almost 2% today. This ETF holds both US-listed companies as well as international companies. The Las Vegas Sands accounts for about 15% of its portfolio, while Wynn Resorts (NASDAQ:WYNN) accounts for 8.4%, and MGM Mirage (NYSE:MGM) accounts for 2.4%.
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