[ET Net News Agency, 16 January 2018] Morgan Stanley lifted its target price for MGM
China Holdings (02282) to HK$27 from HK$23, and maintained its "overweight" rating.
The research house expects MGM Cotai (opening in January 2018 with 1,400 hotel rooms
versus existing 580 rooms) to drive EBITDA growth for MGM China of 51% in 2018, the
highest in Morgan's coverage (no other casino opening during the year).
It said MGM's FCFE (free cash flow to equity) yield for 2019 is 6.9%, also one of the
highest in its coverage. The stock performed well in 2H 2017 in anticipation of the
January opening, and thus could see some near-term price consolidation; while there are
some uncertainties around table allocations and ramp, Morgan expects EBITDA growth in 2H
2018 to drive outperformance for the year. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02282 MGM CHINA
Nominal 
13.420 +0.380 (+2.914%) Others
16/01/2018 17:41
[I-bank focus]Morgan lifts MGM China (02282) to HK$27
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| 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 |