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大行評級|高盛:下調銀河娛樂目標價至51.9港元 但維持“買入”評級
高盛報吿指,銀河娛樂為唯一博彩股錄得按季EBITDA增長,公司第二季EBITDA按季升12%至32億港元,勝於市場經下調預測的30億至31億港元,受間接成本節省及2%每日經營開支削減支撐,並抵銷推廣支出對應博彩毛收佔比按季升1.8個百分點至17.3%的影響有餘。調整貴賓廳贏率後,其季度EBITDA實際按年升15%,受惠於建築材料業務季節性盈利增長及賭場表現改善。報吿指,公司宣佈中期息每股0.5港元,高於去年的0.2港元,意味派息比率由以往的三成升至五成,令人驚喜。該行調整對銀娛今年至2026年EBITDA預測最多1%,目標價由52.4港元降至51.9港元,維持“買入”評級。
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