Las Vegas Sands (LVS) experienced a significant pre-market plunge of 5.89% on Thursday, as the stock reacted negatively to recent analyst actions.

The sharp decline followed a series of analyst reports that included downgrades and price target reductions. Most notably, Jefferies downgraded Las Vegas Sands from Buy to Hold and significantly cut its price target from $72 to $63. Additionally, Deutsche Bank reduced its target price on the stock from $77 to $73.

These negative analyst actions appear to have outweighed several positive price target adjustments from other firms including Stifel, Barclays, Morgan Stanley, and HSBC, leading to the substantial pre-market sell-off in Las Vegas Sands shares.