《大行報告》大摩上調濠賭股目標價 首選永利澳門(01128.HK)
大摩發表研究報告,指澳門將於明年有全新面貌,路(乙水)酒店房對比2019年增加13%,但日均經營開支跌4%,帶動EBITDA升15%,料可帶動高端中場客,短期催化劑為當地重開。
該行指,賭股近日升16%,跑贏恆指13個百分點,投資者詢問股價已反映因素及復甦的步伐,但目前建議投資者可放眼2022年,認為將與疫情前有重大變化。
該行預期中國名義GDP於2022年達122萬億元人民幣,較2019年高22%,相信可帶動中場收入增長,加上在岸抑壓需求,料最終收入遠高於市場預期。今年行業有3大催化劑,包括於今年中延長現有6個賭牌的時間3年、香港與中國/澳門的關口將於第三季全面重開、內地個人遊於第四季恢復,料今明兩年賭收分別202億及355億美元,相等於2019年55%及97%水平,首選永利澳門(01128.HK),目前永利澳門較銀娛(00027.HK)有20%折讓,主因外資持股和貴賓廳貢獻較多,相信市場會於下半年意識到有關憂慮被誇大。
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.