大行評級|星展:下調金沙中國目標價至29.3港元 宏觀能見度低且地緣政治緊張加劇
星展發表報吿,指隨着金沙中國澳門倫敦人二期倫敦人名匯全面開業,預計公司2024年至2026年收入及盈利年均複合增長率達11%及36%。該行把金沙中國目標價由36港元降至29.3港元,基於宏觀能見度低且地緣政治緊張加劇,維持“買入”評級。該行指,倫敦人名匯重開設2,405間房間,對比原來喜來登大酒店的3,968間房間,增加高端房間逾3倍至1,500間,進一步提升顧客體驗。繼倫敦人名匯娛樂場及第一座酒店房間去年9月底啟用後,第二座酒店亦處上半年開業軌道上。該行又指,金沙中國在佔取高端市場博彩毛收市佔位於最佳位置,尤其公司的中場博彩部門產生更高EBITDA利潤率。該行料金沙中國今年取得26%市佔,EBITDA利潤率強化至36%,為業界最高。
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