[ET Net News Agency, 16 October 2018] HSBC Global Research lowered its target price for
Wynn Macau (01128) to HK$28.5 from HK$38.4, and maintained its "buy" rating.
The research house said a poor hold rate in the mass segment and weak VIP at Wynn Macau
caused 2Q to miss market expectations and Wynn's share price to underperform peers in
recent months. HSBC thinks concerns are overdone.
It expects Wynn to recoup market share in both VIP and mass in 3Q. In the medium term,
ite expects improvement in non-gaming offerings and active marketing efforts to continue
to bear fruit at Wynn Palace, which has almost twice the number of rooms of Wynn
Peninsula.
HSBC trimmed its FY2018-20 earnings estimates by 1%, 11% and 10%, respectively, on lower
market growth and changes in market share assumptions. (KL)
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01128 WYNN MACAU
Nominal 
7.550 +0.110 (+1.478%) Others
16/10/2018 14:38
[I-bank focus]HSBC lowers Wynn Macau (01128) to HK$28.5
| Remark: | Real time quote last updated: 26/04/2024 13:57 |
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