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[Brokerage Focus] Soochow Securities (Hong Kong) maintains a 'buy' rating on Wynn Macau (01128), indicating that its third-quarter performance is below expectations.
King's Financial News | Soochow Securities (Hong Kong) issued a research report, stating that wynn macau (01128) 3Q24 performance fell short of expectations, achieving operating income of 0.87 billion US dollars during the period (lower than the consensus expected 0.89 billion US dollars), recovering to 81.2% of the same period in 2019; The company's adjusted property EBITDAR for 3Q24 was 0.26 billion US dollars, a decrease of 6.2% compared to the previous quarter, recovering to 87.3% of 2019, with profit recovery speed faster than revenue recovery speed. The bank pointed out that 3Q24 achieved a gaming revenue of 0.88 billion US dollars, recovering 70.4% from the same period in 2019. Among them, VIP/mass market (including slot machines) revenue
Hong Kong stock announcement: Yuexiu Property's subsidiary successfully won the Gondudu Temple site in Haidian District, Peking with 6.3825 billion yuan.
Guoquan (02517) plans to repurchase H股 using up to 0.1 billion Hong Kong dollars.
Wynn Macau Downgraded to Hold From Buy at HSBC
Daiwa: Wynn Macau rated as "shareholding", with a target price of 8 Hong Kong dollars.
Morgan Stanley released a research report stating that Wynn Macau (01128) underperformed expectations in the third quarter, with property EBITDA at 0.263 billion US dollars, a 6% quarterly decrease, lower than the bank's and market expectations. This was due to a mere 10 basis points increase in market share and an 8% quarterly drop in retail rents. However, management noted a 30% year-on-year increase in Golden Week betting volumes, and the bank believes the current company valuation is attractive, with a target price of 8 Hong Kong dollars and a 'shareholding' rating.
Daiwa: Recommends to "shareholding" rating for Wynn Macau (01128), with a target price of 8 Hong Kong dollars.
Da Ma believes that wynn macau is currently attractively valued.
Hong Kong stocks | Wynn Macau (01128) fell more than 4% in the afternoon, with Citigroup pointing out that its third-quarter performance was slightly below expectations.
Wynn Macau (01128) fell more than 4% in the afternoon, as of the time of publication, it fell by 3.69%, closing at 6 Hong Kong dollars, with a turnover of 98.1944 million Hong Kong dollars.
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