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Bank Rating | Citibank: Raising Wynn Macau's Target Price to HK$9.75 for a “Buy” Rating
Glonghui, May 10 | Citibank published a research report showing that Wynn Macau's first-quarter results beat expectations, with revenue rising 10% quarterly to US$999 million; adjusted property EBITDA rose 14% quarterly to US$340 million, which meant a recovery of about 88% compared with EBITDA for the first quarter of 2019, and the performance exceeded market and Citibank forecasts. The bank believes that the increase in performance was mainly driven by better than expected management of the operating expenses of the two casinos. The report quoted Wynn Macau management as saying that the favorable win rate increased EBITDA by about US$19 million in the first quarter. According to the bank's estimates, Wynn Macau's market share is quarterly
Bank Rating | Goldman Sachs: Raising Wynn Macau's target price to HK$9.6. The performance of the stock price will depend on its ability to maintain profitability
Glonghui, May 9 | Goldman Sachs released a report stating that Wynn Macau's first-quarter results were in line with expectations. Property EBITDA during the period was US$340 million, up 14% quarterly, and adjusted property EBITDA rose 11% quarterly to US$321 million, in line with the bank's and market expectations of US$310 million to US$340 million. The bank quoted management as saying that it maintains a relatively optimistic view of the Group's business prospects. Midfield cash betting maintained a steady trend of 30% year-on-year growth in April, while the first quarter of this year increased 32% compared to before the pandemic, and the hotel occupancy rate remained 99%. Management is also satisfied with the May 1st Labor Day period (May 1 to 5
Citibank: Target price for Wynn Macau (01128.HK) “Buy” rating increased to HK$9.75
Citi released a research report stating that it gave Wynn Macau (01128.HK) a “buy” rating, believing that most of the Group's negative factors were reflected in the stock price, and the target price was raised from HK$8.7 to HK$9.75.
Changes in Hong Kong stocks | Wynn Macau (01128) rose more than 4%, and its stock price hit a new high, strong business performance in the first quarter
Wynn Macau (01128) rose more than 4%, reaching a high of HK$8.1 since July 2023. As of press release, it rose 4.13% to HK$8.06, with a turnover of HK$86.11,117 million.
Xiaomo: The target price for Wynn Macau (01128.HK)'s “increase in holdings” rating was raised to HK$11
J.P. Morgan Chase released a research report stating that it gave Wynn Macau (01128.HK) an “increase” rating, believing that this mainly benefited from an increasingly strong midfield and strict cost control. The target price increased 5% from HK$10.5 to HK$11. The company's business performance was strong in the first quarter of this year, and the bank is now fine-tuning its model. The Group raised its 2024-2025 EBITDA forecast by about 3% to reflect better-than-expected profit margins.
Xiaomo: Raising the target price for Wynn Macau (01128) “Plus” rating to HK$11
Xiaomo raised Wynn Macau's 2024-2025 EBITDA forecast by about 3%.
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