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花旗下調澳門賭業股目標價 降金沙中國(01928.HK)目標價至49元
花旗發表研究報告,指澳門博彩收入持續上升,料第二季錄按季增7%,EBITDA增44%,對新濠博亞未來30日看好,因其為6間賭企中,EBITDA改善最佳的企業。而在基本面上,相信澳門仍有長遠增長故事,特別在旅遊限制解封後,料賭收、EBITDA將可重返疫情前水平,而近期所有回吐都是買入機會,首選金沙(01928.HK)、澳博(00880.HK)、銀娛(00027.HK)。

該行指,雖然賭股看似估值昂貴,EV/EBITDA率達11倍,而歷史平均值為10.6倍,但因相信其增長故事,認為賭股值得給予溢價以反映2022年的增長,特別是來自新項目的增長。

該行降今年賭收預期20%至1,260億澳門元,相等於2019年的43%,同時將賭企的標價下調3至15%。

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