Glonghui, May 6 | CICC released a research report showing that MGM China's net revenue for the first fiscal quarter rose 71% year-on-year to HK$8.258 billion, recovering to 143% in the same period in 2019; adjusted EBITDA was $2.05 billion, up 77% year-on-year, returning to 155% of the same period in 2019, exceeding market expectations of HK$2,372 billion. Considering that the company's growth was better than expected, the bank raised the Group's 2024 adjusted EBITDA forecast by 3% to HK$8.502 billion, while also increasing the 2025 adjusted EBITDA forecast by 1% to HK$9.809 billion. The bank renewed the Group's target price of HK$18.8 and “outperforming the industry” rating.
研报掘金｜中金：维持美高梅中国目标价18.8港元及“跑赢行业”评级
Research Nuggets | CICC: Maintaining MGM China's target price of HK$18.8 and “outperforming the industry” rating
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