The Zhitong Finance App learned that Morgan Stanley released a research report stating that it raised the target price of Aobo Holdings (00880) by 4.7%, from HK$2.15 to HK$2.25, to raise the company's 2025 EBITDA forecast by 2% and the 2026 EBITDA forecast by 2% due to an increase in midmarket share predictions. However, the rating is “reduced” because although the Shanghai Lisboa Integrated Resort (GLP) hotels are of high quality, performance may be hampered by geographical location, etc.

According to the bank, the company's 2024 EBITDA forecast is HK$3.7 billion, 87% for 2019, HK$4.5 billion for 2025, and HK$5.2 billion for 2026, all exceeding 2019 levels. As a result, the 2024-2026 earnings per share forecast was also raised by 13%, 4%, and 7%. The company's basic assumption is that the industry's recovery is in line with expectations. Macau's midfield revenue is expected to return to 110% of 2019 levels in 2024.