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《大行报告》美银证券上调银娱(00027.HK)目标价至79元 评级「买入」
阿思达克 02-26 10:35
美银证券发表研究报告指,银河娱乐(00027.HK)去年第四季息税折旧摊销前利润录10.1亿元,扭转去年第三季的亏损9.43亿元,亦超出该行预期的9.14亿元盈利,较预期高出11%,相信主要由於利润率表现好於预期

该行指,银娱管理层在电话会议中透露银河第三A及C期项目将於今年下半年开业,第四期则预计於2024年,合共提供3,000间客房,主攻高端中场客户,预计第三及第四期资本开支为500亿元,已动用当中的120亿元,未来几年每年料将花费80亿至90亿元。

银娱并表示,经济复苏及内地农历年期带动高端中场细分市场回升,最近核心中场业务亦逐渐见复苏,假期内贵宾及中场客到访人数达到疫情以来的最高水平。

美银重申对银娱的「买入」评级,相信随着第三及第四期项目开幕,可继续取得更多市场份额,将2021至2022年EBITDA预测下调8%及1%,以反映疫情爆发而导致博彩收入增长放缓,并上调对银娱目标价,由76元升至79元。

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