富瑞:予永利澳門(1128.HK)目標價12.8港元 評級“持有”
富瑞發表研究報告指,永利澳門(1128.HK)管理層強調為期兩週的逐步放寬限制政策,並預計第四季度將達到收支平衡,但關鍵仍然是簽發澳門旅遊籤證,但時間和步伐仍然未知。該行予其目標價12.8港元,評級“持有”。
富瑞指,公司第二季度賭場繼續錄得負收入,而經調整EBITDA虧損1.94億元(美元,下同),符合市場預期。當中永利澳門及永利皇宮的經調整EBITDA虧損分別為8300萬元及而1.11億元,虧損較該行預期少,主要是由於成本降低。
管理層強調,為期兩週的漸進式放寬限制政策是“向前邁進了一步”,並對2020年澳門旅遊簽證的簽發充滿信心,在自由行恢復後,訪澳旅客量可能會反彈幾個星期。

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