《大行報告》匯豐研究下調美高梅(02282.HK)目標價至5.4元 評級「買入」
美高梅中國(02282.HK)截至今年3月底止首季度未經審核總收益20.94億元,按年倒退8.9%。匯豐研究發表報告,指美高梅中國首季業績好過預期,然而內地和香港通關時間表的不確定性可能會在短期內繼續限制其股價表現,將美高梅中國今年EBITDA預測下調了93%,但將2023和2024年的預測僅下調了11%和5%,將估值基準年展期至2023年,以反映2023年的業務量更為正常,維持「買入」評級,目標價從5.5元下調至5.4元。
匯豐研究認為,與中介人的連帶責任不應成為問題,美高梅中國母公司計入了1,800萬美元的訴訟準備金,但據該行估計和觀察,目前與中介業務關閉相關的未決索賠不應超過1,000萬元。
匯豐研究表示,儘管內地旅遊限制的影響仍然存在,但業內人士的實地觀察表明,迄今為止,在勞動節假期期間,位於澳門半島的MGM酒店入住率一直很高。
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