CICC: Maintained a "outperform industry" rating for csc development, with 3Q24 performance meeting expectations.
CICC released research reports stating that it maintains the unchanged net income forecast for csc development (00830) for 2024/2025. The firm maintains the 'outperform industry' rating and target price of HK$2.8, corresponding to 8.2x/6.3x 2024 estimated earnings/2025 estimated earnings P/E. The company's 3Q24 performance meets the firm's expectations. Looking ahead, the firm believes it is expected to benefit fully from large-scale construction projects such as the development of the northern metropolitan area in Hong Kong. In addition, the firm is bullish on the BIPV business becoming a new source of income growth during the '14th Five-Year Plan' period. CICC's main points are as follows: The company announced its 3Q24 performance, which basically met expectations. csc development's 1-3
Wells Fargo Maintains MGM Resorts International(MGM.US) With Buy Rating, Cuts Target Price to $47
Barclays Maintains MGM Resorts International(MGM.US) With Buy Rating, Cuts Target Price to $54
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JMP Securities Maintains MGM Resorts International(MGM.US) With Buy Rating, Cuts Target Price to $56
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Lion: Predicts a 10% quarterly decline in Ebitda for Macau's third-quarter gambling industry. Preferred mgm china and Sands China.
Lyon's report states that Macau gambling stocks will start announcing third-quarter earnings at the end of October. Due to a 1.5% quarterly decline in Macau's gambling revenue and ongoing pressure on profit margins, the industry's Ebitda is forecasted to fall by 10% to $1.748 billion. The report indicates that due to the downward revision of profit margin forecasts, the bank will adjust the industry's 2024 to 2025 Ebitda forecasts by 1% to 3%. However, after the recent announcement of economic stimulus measures in the mainland, the bank expects a focus on recent operational updates rather than third-quarter earnings. Additionally, due to concerns over profit margin contraction being offset by an increase in market share, Lyon's
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Barclays Maintains MGM Resorts International(MGM.US) With Buy Rating, Maintains Target Price $56
Barclays Sticks to Its Buy Rating for MGM Resorts (MGM)