高盛:升澳門今年賭收增速預測至9% 上調金沙(1928.HK)評級至“買入”
高盛發表報告表示,澳門博彩股於過去三個月雖已跑贏大市,但仍看好濠賭行業前景,決定上調對澳門2020年博彩收入增長預測,由原來3%升至9%,對比料2019年賭收下滑3%,該行料貴賓廳及中場今年賭收可按年各升3%及13%,相信可受惠於市場流動性、更佳宏觀經濟環境、亞洲旅遊業復甦及其他地區競爭較少所推動。
該行估計,澳門2020年博彩收入錄392.6億美元,按年升近9%,料2020年貴賓廳賭收141.53億美元按年升3.2%,並料中場收入228.62億美元按年升13.1%。
高盛料,濠賭股今年毛利可擴展1.5%,受惠有利收入組合,並令今年EBITDA可增長15%,並指目前行業估值低於週期中部水平(預測今年企業價值對EBITDA的11.9倍,低於長期平均13倍),未來市場或會上調對濠賭盈利預測。

該行表示,決定上調對金沙中國(01928.HK)投資評級,由“中性”升至“買入”,將目標價由41.6港元升至53.2港元,因料可受惠中場市場上升、公司具有更佳營運槓桿。而高盛重申澳博控股(00880.HK)仍為行業首選股,維持對其“確信買入”名單,調高對其目標價由11.3港元升至12.8港元;維持銀河娛樂(00027.HK)“買入”評級,上調對其目標價由65.1港元升至73.6港元。
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