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《大行报告》美银证券上调澳博(00880.HK)目标价至12.8元 评级「买入」
阿思达克 02-24 15:55
美银证券发表研究报告指,澳博(00880.HK)2020年第四季度经调整EBITDA亏损3.23亿元,少过预期的4.05亿元,期内贵宾博彩收入按季增长134%,中场博彩收入更按季度增长172%,澳博市场份额则由第三季度的20%下降至第四季度的11.5%。

报告指出,上葡京(GLP)预期於3月至第二季初取得批准,有望於第二季开幕,管理层透露开放规模方面具有灵活性,主要取决於市场复苏步伐。该行指出,公司成本有所节省,去年第四季每日运营支出减少至1,220万元,预期将2,000名员工转移到GLP後,成本可进一步降低至1,060万元,预计GLP每日运营支出介乎700万至1,000万元。

美银又指,访客量和CNY趋势:新葡京的每日访问量从去年第三季2,300人上升到去末季的4,000人,在农历年期间更进一步上升到7,000人,认为有关数据未完全反映在博彩收入之上,重申对澳博的「买入」评级,预期GLP新开业有助取得市场份额,并提升博彩收入。

美银将2021至2022年盈测分别下调9%及上调4%,目标升至12.8元(原本12.1元),以反映第四季业绩好过预期。

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