大行評級|大摩:予金界控股“增持”評級 目標價5.5港元
摩根士丹利發佈研究報吿稱,予金界控股“增持”評級,目標價5.5港元。公司第三季EBITDA環比跌15%,遜於該行預期達20%,主要因賭收環比跌6%較預期大,達2019年水平的30%,料未來逐漸增長,因亞洲其他博彩市場正呈現疫後改善情況。公司現估值相當於預測今年企業價值對EBITDA約6.5倍及自由現金流收益率13%,倘要估值重評則需要就明年7月到期債券提供償還方案,及有可持續兼具可見度的盈利復甦。
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