J.P. Morgan Chase published a research report indicating that Aobo Holdings' performance in the first quarter of this year was steady, and both revenue and profit performance improved. Taking into account management's expectation that Lisboa's market share will continue to grow, Motong accordingly raised its EBITDA forecast for the 2024-2025 fiscal year by about 5%, and the target price was raised from HK$3 to HK$3.3.

However, the bank maintained a “neutral” rating for Aobo, stating that it is currently unconvinced that Aobo can reach the 5% market share target in the next few years. At the same time, it believes that the deleveraging progress of Aobo is disappointing. It is currently the only gaming operator in the industry that has not yet been able to generate significant free cash flow. It believes that the burden of debt costs and capital expenses is relatively heavy, and that the current profit forecast for Aobo is slightly lower than market expectations.