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<Research>UBS Cuts TPs for Casinos, Upgrades SANDS CHINA LTD/ MELCO INT'L DEV to Buy, Maintains 5% GGR Growth Forecast for This Yr
Recommend 14 Positive 34 Negative 18 |
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UBS issued a research report holding a positive outlook on Macau's gaming industry, as the solid demand YTD that strengthens its confidence in sustainable GGR growth for this year. The broker maintained its 5% YoY GGR growth for 2026, and expected growth to be concentrated in 1H26 with an approx. 8% YoY increase, while the growth rate in 2H26 is expected to slow to about 3%. UBS broadly lowered its target prices for Macau casinos. The latest ratings and target prices of the sector are listed in a separate table. The broker upgraded SANDS CHINA LTD (01928.HK)/ MELCO INT'L DEV (00200.HK) from Neutral to Buy, with target prices cut to $20.4/ $5.3, respectively. Its sector top picks are Melco Resorts & Entertainment (MLCO.US) and SANDS CHINA LTD, with the former's target price/ rating being US$9.4/ Buy. AASTOCKS Financial News Website: www.aastocks.com |
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