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<Research>G Sachs Upgrades NAGACORP (03918.HK) to Buy on Confidence in GGR Growth
Goldman Sachs released a research report upgrading NAGACORP (03918.HK) from Neutral to Buy, as it is confidence in the Company's continuous rise in GGR and EBITDA. The newly op...
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<Research>G Sachs Upgrades NAGACORP (03918.HK) to Buy on Confidence in GGR Growth
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Goldman Sachs released a research report upgrading NAGACORP (03918.HK)  +0.040 (+1.008%)    Short selling $136.90K; Ratio 4.751%   from Neutral to Buy, as it is confidence in the Company's continuous rise in GGR and EBITDA.

The newly opened Techo International Airport significantly enhanced passenger capacity, the broker noted. Data from Goldman Sachs shows that flights to Phnom Penh continued to grow strongly 4Qtd, with an overall YoY increase of 10-15%, and flights led by China rising by 40-50%.

The current company valuation is not excessively high, with an EV/ post-tax EBITDA ratio of 5x for FY2026, while in past industry upcycles, valuations could reach 6-7x. Therefore, Goldman Sachs adjusted its 2025-2027 EBITDA forecasts by 34-40%,and lifted its target price from the previous $3.88 to $7.5.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 12:25.)

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