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SJM HOLDINGS Sags 3%+; M Stanley, JPM Rate Stock at Underweight with TP HKD2
SJM HOLDINGS (00880.HK) opened 1.4% lower today (8th). With deeper losses in early trading, it last quoted at an intraday trough of HKD2.03, down 3.33%, with turnover of 4.5325 mil...
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SJM HOLDINGS Sags 3%+; M Stanley, JPM Rate Stock at Underweight with TP HKD2
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SJM HOLDINGS (00880.HK)  +0.010 (+0.532%)    Short selling $3.69M; Ratio 36.650%   opened 1.4% lower today (8th). With deeper losses in early trading, it last quoted at an intraday trough of HKD2.03, down 3.33%, with turnover of 4.5325 million shares, involving HKD9.2521 million.

SJM HOLDINGS reported 1Q26 total net revenue of HKD5.903 billion, down 21.1% YoY. Net gaming revenue was HKD5.364 billion, down 22.8% YoY. The company swung to a loss of HKD62 million, compared with a profit of HKD31 million in the same period last year. Adjusted EBITDA was HKD917 million, down 4.3% YoY, while adjusted EBITDA margin was 15.5%, up 2.7 ppts YoY.

The latest consolidated summary by this website of investment ratings and TP from four brokers is as follows:

Broker | Rating | TP (HKD)
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Morgan Stanley | Underweight | HKD2
Key view: 1Q results were in line, with GM improvement. Yet, Grand Lisboa Palace (GLP) continued to show weak market share, and the company's net debt further added to HKD24.8 billion, representing the highest leverage ratio among Macau gaming operators.
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HSBC Research | Hold | HKD2
Key view: 1Q results beat, on margin expansion and effective cost control. Management's short-term target is to restore market share to double digits, but this goal is challenging amid acute competition and renovation projects by peers.
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JP Morgan | Underweight | HKD2
Key view: Although 1Q results met expectations, they lacked positive surprises and are unlikely to change the long-term cautious stance. The company's leverage remains extremely high (above 8x), limiting its dividend capacity over the next 18-24 months, with a lack of near-term share price catalysts.
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UBS | Sell | HKD2.2
Key view: 1Q EBITDA met expectations, on the back of margin expansion driven by the absorption of customers from satellite casinos. Management is aggressively cutting costs and expects leverage to fall below 8x by end-2026.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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