jefferies on monday upgraded las vegas sands and wynn resorts after macao announced its plan to allow chinese tour groups back in the casinos as soon as november the wall street firm boosted rating for the casino operators to buy from hold following news that macau government said that it will resume visitation access from mainland china through tours and evisa in a few months the moment weve been waiting for jefferies analysts led by david katz said in a note to clients monday we believe several questions remain around the business and our current forecasts already reflect a meaningful recovery but an upward valuation adjustment for wynn and lvs is appropriate shares of wynn resorts rallied 14 monday while las vegas sands also soared a similar amount jefferies also lifted the price target for las vegas sands to 50 from 40 wynn to 75 from 62 still the analysts raised the question about the concession renewal process following the reopening the most important question is the concession renewal process which had been expected to be benign until a new entrant submitted an application which was confirmed jefferies analyst said our mgt discussions provide little insight into its meaning which leaves uncertainty until the process is completed meanwhile risks remained for the duo especially for the longerterm organic growth as the economic outlook is drifting more negative in macao the analysts noted cnbcs michael bloom contributed reporting