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<Research>CLSA Cuts WYNN MACAU's TP to HKD8.2, Raises GALAXY ENT's TP to HKD49.5
Recommend 1 Positive 7 Negative 9 |
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Last quarter, Macau's gaming industry was primarily shored up by a 15% growth in GGR, CLSA said in its research report. It expects industry EBITDA to have risen by 16% YoY in 4Q25 to USD2.2 billion. CLSA also estimates the revenue shares of GALAXY ENT (00027.HK), SANDS CHINA LTD (01928.HK), and MGM CHINA (02282.HK) to see a YoY increase. EBITDA profit margins and dividends will be investors' key focuses ahead of the results release. By incorporating actual GGR data for 4Q25 and adjusting market share and profit margin forecasts, CLSA revised its earnings forecasts. It ultimately lowered WYNN MACAU (01128.HK)'s target price from HKD8.4 to HKD8.2 and raised GALAXY ENT's from HKD49.1 to HKD49.5, both still rated as Outperform. GALAXY ENT and MGM CHINA remain as CLSA's industry top picks. AAStocks Financial News |
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