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Sands China Ltd. Message Board

  • abcsurfnet abcsurfnet Oct 4, 2013 3:48 AM Flag

    JP bullish on SANDS CHINA LTD (01928.HK), MELCO INT'L DEV (00200.HK) & MGM CHINA (02282.HK)

    JP bullish on SANDS CHINA LTD (01928.HK), MELCO INT'L DEV (00200.HK) & MGM CHINA (02282.HK)
    10/04/2013

    JP Morgan commented there is still potential upside for Macau gaming enterprises, due to strong growth in revenue, undemanding valuation at 17x to 2014 P/E forecast, plus there will be no new supply in next 1.5 years. The bank projected expansion of 16% in the gaming industry in 2013 and 2014, and 17% in 2015. In addition, outlook of VIP business is optimistic, and robust momentum during the Golden Week will be the catalyst of the sector.

    The bank was bullish on SANDS CHINA LTD (01928.HK), MELCO INT'L DEV (00200.HK) and MGM CHINA (02282.HK). Target price of SANDS CHINA LTD (01928.HK) added from $45 to $59.5, rating retained at Overweight due to its strongest-in-class profit growth and alluring valuation.

    MELCO INT'L DEV (00200.HK)'s rating improved to Overweight from Neutral, with its powerful performance in core operations, undemanding valuation and improved earning mix. Target price jumped from $12.5 to $25.3.

    MGM CHINA (02282.HK) managed to maintain its profitability amid vigorous competition in last 2 years, target price rose from $24 to $30.5, rating stayed at Overweight.

    WYNN MACAU (01128.HK) rated Overweight, target price added to $28.8. SJM HOLDINGS (00880.HK) rated Overweight, target price increased to $26. GALAXY ENT (00027.HK) remained at Neutral, target price climbed to $56.

    Sentiment: Strong Buy

 
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