《大行報告》匯豐研究上調澳博(00880.HK)目標價至9.1元 評級「持有」
匯豐研究發表報告,指澳博(00880.HK)首季EBITDA錄2億元虧損,按年下跌119%,多於該行預期的4,000萬元虧損,而期內並沒有一次性影響因素,主要是公司的間接費用多於預期,以及受博彩收入急劇下降所拖累。管理層仍預期上葡京將會在2020財年底開幕。
雖然澳博的市場份額由首季的14.3%急增至4月份的40%,但由於4月份博彩收入按年下跌97%,今年第二季仍是一個充滿挑戰的季度。銀團貸款獲得六個季度豁免,令公司有更佳的流動性狀況,管理層預期這能削減營運開支6%。
該行維持公司「持有」投資評級,目標價由原來的8.6元上調至9.1元。該行將公司2020財年的EBITDA下調15%,以反映業績表現遜於預期,預期公司的經營業績將繼續落後於市場,直至上葡京開幕為止。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.