[ET Net News Agency, 8 January 2021] Citi Research lifted its target price for SJM
Holdings (00880) to HK$12 from HK$10.5 and maintained its "buy" rating.
The research house forecast SJM to report 4Q net revenue of HK$2,453m (down 71%) and
EBITDA loss of HK$528m (a 32% QoQ loss reduction). It believes SJM, being a Peninsula
casino operator, did not benefit as much from the visa resumption as its Cotai peers. Citi
thus anticipates SJM to be the only operator that failed to break even during 4Q 2020.
Citi said, under the extreme scenario, SJM might run short in liquidity in 2021.
However, judging from the reasonably low-interest rates that some of the Macau operators
have struck from their recent issues of senior notes, the market is currently
issuer-friendly, and Citi believes SJM will be able to raise some inexpensive funds to
cover the cash shortfall if/when it needs to. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00880 SJM HOLDINGS
Nominal 
2.700 +0.130 (+5.058%) Others
08/01/2021 15:32
{I-bank focus}Citi lifts SJM Holdings (00880) to HK$12
| Remark: | Real time quote last updated: 18/04/2024 10:50 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |