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00027 GALAXY ENT
RTNominal down33.800 -0.250 (-0.734%)
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12/12/2018 15:53

[I-bank focus]DB cuts Galaxy Entertainment to HK$42.6

[ET Net News Agency, 12 December 2018] Deutsche Bank cut its target price for Galaxy
Entertainment (00027) to HK$42.6 from HK$45 and maintained its "sell" rating.
The research house worries that Macau's VIP segment would turn negative in 2019, and
Galaxy has higher exposure to this segment. It values Galaxy at 10x EV/EBITDA.
DB also worries that the smoking ban, effective January 2019, will have the most impact
on Galaxy. (KL)

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