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大行評級|高盛:維持金沙中國“買入”評級 目標價下調至26.3港元
格隆匯 04-19 14:31
高盛發表研究報吿,下調金沙中國2024年至2026年各年EBITDA預測介8%至10%,目標價由28.5港元降至26.3港元,維持“買入”評級。報吿亦料,公司博彩總收入的市場總份額在今年次季及第三季仍然受壓,直到第四季才會反彈。高盛指,金沙中國2024年首季EBITDA按季跌7%至6.1億美元,符合該行預期,但低於市場約6.6億美元的預期,部分原因是貴賓贏率較低,錄2.35%(低於理論上的3.3%)。經贏率調整後,收入錄6.41億美元,按季跌8%。公司將其歸因於各種資本再投資計劃或翻新工程的影響,澳門威尼斯人中的金光綜藝館目前因為裝修而關閉,該館可容納1.5萬個座位;而2024年首季,澳門倫敦人酒店平均約有500至600間客房停止服務。報吿亦指,當更多休閒及家庭遊客到澳門旅遊時,金沙中國將有望今年下半年佔到更多市場份額。展望未來,該行相信裝修工程完成後有助公司在不同細分市場競爭,並在2025財年重奪市場份額,受惠於中期復甦逐步擴大到大眾及非博彩細分市場。
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