Glonghui, Feb. 14 | Goldman Sachs raised the target price of MGM China (2282.HK) from HK$12 to HK$13.6, maintaining a “neutral” rating. Goldman Sachs described last year's fourth quarter results as better than expected. Midfielder and slot gaming revenue increased by 24% and 27%, respectively, from quarter to quarter, outperforming the market. Furthermore, it was a surprise that the market share remained around 15% in the past two or three quarters. Management also revealed that the market share rose to about 20% in January. Although it was mainly helped by concerts, etc., it may not be sustainable, but the goal is to maintain a stable double-digit market share and EBITDA rate for the next few quarters. Due to a better market share than expected, Goldman Sachs raised MGM's EBITDA forecast for this year by 11%, but warned that due to the completion of new projects in the same industry, market competition is more intense, and the company may lose some markets.