12:18 PM EDT, 10/28/2025 (MT Newswires) -- Las Vegas Sands ( LVS ) and Boyd Gaming ( BYD ) are seeing improved required rates of return as well as better market size estimates per customer, Morgan Stanley analysts said in a note to clients Tuesday.

The analysts attributed Las Vegas Sands' ( LVS ) higher Q3 results to "unrelenting strength" in Singapore and Macau. Meanwhile, they noted that Boyd Gaming ( BYD ) reported mixed Q3 results as regional performance was slightly offset in part by weaker destination business.

Morgan Stanley raised its price target on shares of Las Vegas Sands ( LVS ) to $63 a share from $59, and increased Boyd Gaming's ( BYD ) price target to $85 a share from $84, while maintaining an equalweight rating on both companies.

Shares of Las Vegas Sands ( LVS ) and Boyd Gaming ( BYD ) were each down nearly 2% in recent trading.

Price: 58.28, Change: -1.16, Percent Change: -1.95