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《大行報告》大摩升銀娛(00027.HK)評級至「增持」 降金沙中國(01928.HK)至「與大市同步」
摩根士丹利發表研究報告指,澳門濠賭股的中場收入回復到2019年疫情前水平,料未來表現將取決中場收入、中場市場份額不斷增加、營運開支管理及財務槓桿。該行相信,短期內股市或會窄幅波動,因為9月通常會出現季節性疲軟。然而,預計濠賭股於今年10月和第四季將會保持增長勢頭。 該行看好銀河娛樂(00027.HK),料利息支出不會再增加,而且預計公司於2023至2026年期間將增加市場份額。該行估計銀娛於2023年至2025年在澳門賭收市場份額各為18.1%、19.3%及19.7%(料2023年至2025年在澳門中場賭收市場份額各為18.5%、19.4%及19.6%)。將銀娛評級由「與大市同步」上調至「增持」,目標價由60元升至62.5元。 大摩表示,將金沙中國(01928.HK)投資評級由「增持」降至「與大市同步」,目標價由32元下調至30元,關注行業優越中場復甦情況。 該行下調2023及2024年的整體行業EBITDA預測5%及2%,該行估計澳門2023年至2025年全年賭收預測各為1,857.1億、2,351.35億及2,529.74億澳門元,料按年各升3.4倍、27%及8%,估計將達到2019年水平各64%、80%及87%。此外,該行料澳門今年9月至12月每月賭收各為161.18億、198.32億、171.58億及185.88億澳門元。
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