[ET Net News Agency, 17 April 2018] CICC Research lifted its target price for Galaxy
Entertainment (00027) to HK$78 from HK$74.8, and reiterated its "buy" rating.
The research house expects group adjusted EBITDA for Galaxy to be HK$4.3bn (+3% QoQ &
+34% YoY) versus the industry's +7% QoQ & +24% YoY. CICC believes slower-than-industry
EBITDA growth could be due to weak Mass segment performance at Galaxy Macau, slightly
offset by Starworld's gain in market share in the Mass segment from MGM Peninsula and good
luck in the VIP segment.
Compared with 4Q 2017, it expects Galaxy to maintain GGR market share helped by market
share gains in the VIP segment and offset by market share loss in the Mass segment. It
raised its FY2018/19 earnings forecasts by only 1%/3% to reflect increased competition in
Cotai with new property opening. (KL)
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00027 GALAXY ENT
Nominal 
35.600 +0.550 (+1.569%) Others
17/04/2018 17:26
[I-bank focus]CICC ups Galaxy Entertainment (00027) to HK$78
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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