Editor / Fortune Information selena
Futu News on October 15, Credit Suisse issued a report reiterating its cautious view on Macau gaming stocks in the near future, believing that the industry lacks short-term catalysts, profits have downside risks, and regulatory uncertainty.
This line of material$Galaxy Entertainment (00027.HK) $In the third quarter of this year, EBITDA was HK $410 million, mainly due to a decline in gambling revenue, although some of it also benefited from a drop in construction costs.
Credit Suisse pointed out that Macau is expected to lower its gambling revenue from 2021 to 2023 to 31%, 56% and 70% of its pre-epidemic levels, and lowered its profit forecasts for Yinyu from 2021 to 2023 by 9.5%, 14% and 3.5% respectively, lowering its target price from HK $52.90 to HK $42.2, maintaining a "neutral" rating, bullish on its strong balance sheet and long-term contribution from phases III and IV of the "Macau Galaxy" project.
As of press time, Galaxy Entertainment fell more than 3% to HK $39.65, with a total market capitalization of HK $172.7 billion.
According to Futuo Niuniu data, Credit Suisse ranks first in Galaxy Entertainment's net selling broker seat, with a net sale of 306100 shares.