[ET Net News Agency, 4 March 2021] UBS Global Research lifted its target price for
Galaxy Entertainment (00027) to HK$76.3 from HK$62.9 and maintained its "neutral" rating.
The research house expects Macau's GGR to reach 58% of the 2019 level in 2021 and be on
a par with the 2019 level in 2022. It also expects mass to outperform the VIP segment in
the potential recovery.
UBS said Galaxy outperformed peers over the past 6-12 months on its growth outlook
(Phase 3) and superior balance sheet. UBS thinks the relative re-rating compared with
peers has largely priced in potential growth from the Galaxy Macau (GM) Phase 3 expansion.
Before the opening, Galaxy could face some market share pressure for competitive supply,
namely Sands' (01928) Four Seasons Grand Suites and The Londoner, and SJM's (00880) Grand
Lisboa Palace. (KL)
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00027 GALAXY ENT
Nominal 
35.600 +0.550 (+1.569%) Others
04/03/2021 17:42
{I-bank focus}UBS ups Galaxy Ent (00027) to HK$76.3
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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