瑞信下调金沙中国(1928.HK)目标价至49港元评级“跑赢大市”
瑞信发表研究报告指,金沙中国(01928.HK)第二季经调整EBITDA为7.65亿美元,按季跌11%,相信市场仍未完全反映中场赢率逐渐正常化,以及金沙城中心(SCC)改建带来的短期影响。

该行指,金沙中国中场和贵宾厅的市占率同时下跌,贵宾厅的赌收按季跌14%(相对行业跌7%),中场跌9%(相对行业跌1%),而中场符预期,但高端中场则较预期弱。同时翻新工程亦对业务有影响,尤其是金沙城中心,预期需至2020年才逐步完成,料「伦敦人」将有助巩固中场领导定位。
该行又指,长远公司可维持稳定,特别是其中场定位、自由现金流强劲、股息率5%,但翻新工程会限制短期股价表现,目标价由50元降至49元,维持“跑赢大市”评级。
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