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《大行報告》里昂:澳門賭業「五一」檔需求強勁 升金沙中國(01928.HK)目標價至35.4元
里昂發表報告指出,澳門博彩企業將於4月20日起披露今年首季業績,該行預期在澳門賭收按季增長3.3倍的情況下,六家博彩營運商首季經調整EBITDA均可轉盈至91億港元,但認爲業績關鍵在於五月黃金週的提前預訂及高端博彩業務的發展勢頭。 該行進行調研,澳門五一黃金週期間酒店客房需求旺盛,追蹤27間酒店於黃金週期間訂房情況,其中15間已訂購一空。該行料澳門第二季賭收達391.01億港元(按年升3.88倍及按季升20.2%)。 里昂對澳門博彩業今明兩年的EBITDA預測各輕微下調1%至2%,並對今年首季銀娛(00027.HK)及美高梅中國(02282.HK)預測作出調整。不過,該行維持對今年行業賭收預測約1,643億元(達2019年59%水平),料全年澳門中場及老虎機收入將達至2019年的89%水平。 此外,該行對新濠博亞娛樂(MLCO.US)、美高梅中國、金沙中國(01928.HK)及永利澳門(01128.HK)同爲「買入」評級,並將金沙中國目標價由33.9元上調至35.4元,維持銀娛及澳博(00880.HK)「跑贏大市」評級。 股份 | 投資評級 | 目標價(港元) 美高梅中國 | 買入 | 14.5元 永利澳門 | 買入 | 10元 金沙中國 | 買入 | 33.9元 -> 35.4元 銀河娛樂 | 跑贏大市 | 61.2元 澳博控股 | 跑贏大市 | 4.6元
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