Las Vegas Sands Holds Above $60 As We Forecast: Our Price Target Of $70 Or More Gets CloserBy Howard Jay Klein, Seeking Alpha.comSeptember 7, 2017 at 9:00 pmAbout a year ago, Las Vegas Sands (NYSE:LVS) was sitting around $51, sloshing in that period in the low $50s and even dipping at one point around $49. We strongly demurred, pointing out that the performance we expected from the soon to open Parisian, the total 13,000-room inventory LVS would command, its strong culture of margin control and focus on mass, told us at least, that the stock was woefully undervalued.We spoke to lots of our on the ground sources, examined trends in average bets, mass visitation and mostly the uptick we saw and discussed with associates in Macau in the premium mass comeback. Based on that we valued LVS at $70 a share.As we saw these market trends, which in our industry-centric view, disproportionately favored LVS, we upped guidance again to $77 by Q2 of this year. That upgrade assumed a decision by Japanese legislators on industry structure would have come by then. It has been delayed. However the key to our bullish take from our own internal data points was the price resistance we saw to the stock moving to and holding above $60. To us that was a watershed number.