《大行報告》大摩:美高梅中國(02282.HK)上季業績勝預期 1月市場份額增至20%
摩根士丹利發表報告指,美高梅中國(02282.HK)去年第四季業績表現勝預期,物業EBITDA較該行及市場預期高出10%,末季年化企業EBITDA與2019年同期相比亦增長47%。報告予美高梅中國「增持」評級,目標價13.5元。
按博彩收入計,今年1月份美高梅中國的市場份額達到20%,較去年第四季的16.3%提升。大摩指出,今年新春假期首四天數據顯示,美高梅中國所有博彩細分市場入均已超越疫情前、即2019年同期水平。
美高梅中國淨負債按季減少9%,達到去年第四季年化EBITDA的2.55倍。大摩預計,美高梅中國去年第四季中場份額將按季上升1.7個百分點至16%,當中路(乙水)美高梅中場博彩毛收入料按季增長36%,而美高梅半島酒店的中場賭收料按季增長10%,達到2019年第四季的139%。
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