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《大行報告》匯豐研究:澳門博彩業龍年開局穩健 重申「買入」金沙中國(01928.HK)、永利澳門(01128.HK)、美高梅中國(02282.HK)及銀娛(00027.HK)
匯豐研究發表報告指,本月至今澳門賭收為125億元澳門元,過去兩周日均賭收為7.14億元澳門元。根據該行估計,今年春節內地遊客人數是2019年同期水平的101%,中場數目亦已超過2019年同期水平。 報告指,澳門博彩股股價自2月1日以來已上升12%,恆指同期上升4%,主要因為市場預期澳門博彩股龍年開局穩健,但目前亦見到一些春節後的獲利回吐,於昨日(19日)該板塊下跌2%,恆指同期下跌1%。 匯豐研究認為,雖然消費支出前景疲軟仍是關注點,但認為澳門博彩股仍有大規模可持續復甦的潛力。以2024年EV/EBITDA的11倍計算,目前行業估值便宜。 該行看好金沙中國(01928.HK)和永利澳門(01128.HK),因兩者風險回報較高,目標價分別為33元及9元,評級均維持「買入」。美高梅中國(02282.HK)的市場份額具有防禦性,銀娛(00027.HK)往績表現穩健,因此亦重申「買入」評級,目標價分別為15元及52.5元。
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