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<Research>UBS: SANDS CHINA LTD 4Q25 EBITDA Misses; Rating Neutral
Recommend 14 Positive 18 Negative 15 |
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Las Vegas Sands (LVS) announced Macau adjusted property EBITDA of USD608 million in 4Q25, representing a YoY hike of approximately 6%, UBS said in its research report. When adjusting for VIP hold, the EBITDA was USD582 million, below the consensus of USD628 million. UBS stated that the company's management reiterated its target for Macau annual property EBITDA of USD2.7 billion, on the back of improved utilization of its asset base. Management believed that improvements in marketing plans and the introduction of new facilities since 2Q have driven gaming revenue growth in the right direction. The broker assigned SANDS CHINA LTD (01928.HK) a Neutral rating with a target price of HKD22.4. AASTOCKS Financial News Website: www.aastocks.com |
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