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《大行報告》麥格理升永利澳門(01128.HK)評級至「中性」 目標價上調至13元
阿思達克 07-24 10:06
麥格理發表研究報告,指市場普遍預測澳門會恢復旅行簽證,預期當個人遊簽證計劃恢復的消息一宣布,澳門濠賭股的估值將立即反映賭收增長的因素。因此,在個人遊計劃恢復之前買入股票似乎是最好的交易策略,但若投資者過早買入,則可能需要數個月時間等待催化劑出現。若在此之前市場波動性回升,例如貿易戰等,股價將面臨大幅下行的風險,而若博彩收益維持跌90%以上,其估值底線將會被消除。

然而,該行認為恢復個人遊計劃似乎是由中央政府決定,令到市場對此催化劑的可見度極低,建議投資者尋找相關信號,以了解中央政府是否樂於放寬群眾聚會及旅遊。有見廣東省在7月15日放寬檢疫限制外,內地決策者同時放寬了其他對休閒旅遊及娛樂的限制,可見決策者似乎正在放寬旅遊限制,因此該行認為下一波的放寬將會是買入澳門濠賭股的信號。

該行將永利澳門(01128.HK)的投資評級由原來的「跑輸大市」上調至「中性」,目標價由12元上調至13元,認為股份自5月20日以來表現出驚人的韌性。

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