《大行》華泰證券下調永利澳門(01128.HK)評級至「增持」 目標價微降至6.7元
華泰證券發表報告指,永利澳門(01128.HK)母公司永利度假村(WYNN.US)於美東8月7日發布第二季財報,其澳門板塊表現疲弱,導致永利澳門上周五(8日)收跌7.4%。其中博彩收入按年和按季持平,中場毛收入按季跌3%,且除中場外恢復均弱於行業。VIP轉碼數按季跌7%,贏率僅2.97%,去年同期為3.54%。EBITDA利潤按年和按季回落,短期盈利或承壓。
報告指,管理層對後市態度積極,稱6至7月博彩收入動能回升,並計劃2025至2026年投資約7.5億美元用於拓建主席俱樂部、翻新酒店客房及會展娛樂中心建設,以增強高端與非博彩競爭力。考慮到該行認為永利中場與高端均乏力,反映其吸客戰略及非博彩布局存在樽頸,下調永利澳門評級至「增持」。目標價由6.8元微降至6.7元。
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