Wells Fargo backs off bullish stance on Las Vegas Sands

• Shares of Las Vegas Sands (NYSE:LVS) are lower in early action after Wells Fargo moves off its Overweight stance on the stock.
• The investment firm thinks short-term risks to the Macau gaming sector push the risk/reward profile on LVS to balanced.
• The price target on the casino operator is slashed to $60-$70 from a range of $80-$85.
• LVS -1.3% premarket to $61.50.