摩通:料12月賭收按年下跌10-12% 中期首選銀娛(0027.HK)
摩根大通發表研究報告指出,澳門11月博彩收入按年下跌8.5%,與市場估計下跌8-15%以及摩通預估跌10%相若,但勝最差預測。摩通預期,澳門12月賭收將按年下跌10-12%,與現時市場普遍預測相若,意味第四季賭收將按年下跌7-8%,但按季升2-3%。
銀河娛樂(0027.HK)仍是摩通中期首選濠賭股,目標價為64港元,評級為“增持”,緊隨其後推薦的股份是永利澳門(1128.HK)和金沙(1928.HK),目標價分別是20港元及43.5港元,評級均為“增持”,主要是兩者的估值處歷史低位、而市場已消化較差的預測以及服務質素優勝。
摩通對濠賭股維持正面的看法,主因是估值低,市場對賭股未予厚望,亦令投資者不會因為賭企盈利未符預期而大失所望。
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