Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>G Sachs Elevates MGM CHINA (02282.HK) TP to $16.5 as 1Q Results Beat
Recommend 13 Positive 28 Negative 16 |
||||
|
||||
|
MGM CHINA (02282.HK)'s 1Q24 results beat expectations, Goldman Sachs released a research report saying. Property EBITDA rose 14% QoQ to $2.5 billion toward the high-end of the market's consensus range. After adjusting for lower VIP win rate, EBITDA would reach $2.67 billion, up 22% QoQ, thanks to lower daily operating expenses. The Group's overall GGR market share increased by 0.8 ppts QoQ to 17.2%. Taking into account the Group's YTD GGR and market share trends, Goldman Sachs adjusted its FY2024-FY2026 EBITDA forecasts by 11-14%, and elevated its target price from $14.4 to $16.5, with rating at Neutral. Goldman Sachs also expected GALAXY ENT (00027.HK), SJM HOLDINGS (00880.HK) and Melco Resorts & Entertainment Limited (MLCO.US) to perform better, all of which rated Buy. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
