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研報掘金丨華泰證券:下調金沙中國目標價至21.2港元 維持“買入”評級

華泰證券發表報告指,金沙中國母公司金沙集團上週發佈第一季財報,當中澳門業務(即金沙中國)博彩毛收入6.1億美元,按年跌6%,按季跌2%,恢復至2019年第一季的69%。該行認爲金沙中國仍承擔由翻新帶來的份額和利潤壓力,疊加行業缺乏增長動能,澳門政府預計今年總賭收爲2400億澳門元,但首三個月平均不到200億澳門元,而歷史上政府預測偏保守。

由喜來登改裝的倫敦人名匯已於4月開放,提供2405間豪華酒店套房,預計有望趕上五一假期改善業績,疊加下半年存在繼續派息預期,或遵循2024年末的每股25港仙,按目前股價計算年化股息收益率約4%。該行維持對其“買入”評級,目標價由24.7港元降至21.2港元。

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