Las Vegas Sands, cut from Goldman list, hits low

Analyst Steven Kent kept a "Buy" rating on the shares of the Las Vegas-based company, which operates hotels and casinos in its home town and the Chinese resort city of Macau and is building properties in Pennsylvania and Singapore.

But Kent removed Las Vegas Sands from his "Americas Conviction Buy List," a recommended portfolio, less than three weeks after adding it to the list.

Since adding the stock, Kent said, "many of the positive catalysts have played out, but the shares have not responded," pointing to reports of potential market share gains in May and positive developments in Macau. In fact, he noted, the stock fell 15.7 percent during that time.

"We maintain our Buy rating on LVS shares as we continue to believe in the long-term prospects of Macau turning into a conference and leisure destination, the potential for Singapore to be a leading gaming destination, and the general expansion of gaming worldwide," Kent wrote.

He kept an $85 price target on the shares, implying he expects the stock to gain 50 percent in the next year.

Las Vegas Sands was down 37 cents, to $56.18 in heavy midday trading, after earlier dropping to $55.65, its lowest point since April 2006.