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<Research>DBS Slashes GALAXY ENT (00027.HK) TP to $45.2 on Low Macro Visibility
Recommend 3 Positive 7 Negative 6 |
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DBS Group Research issued a research report slashing its target price for GALAXY ENT (00027.HK) from $55.22 to $45.2, with rating kept at Buy, based on its prudent approach on low macro visibility. GALAXY ENT has the best liquidity position among casinos, with net cash of more than $15 billion and annual operating cash flow of over $10 billion, which should be sufficient to support ongoing investment, including MOP28 billion over the next 10 years to strengthen its integrated resorts, mainly non-gaming projects that can further boost market share, DBS Group Research added. AAStocks Financial News |
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