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<Research>M Stanley Adds TP of WYNN MACAU (01128.HK) to $9.3, Rates Overweight
Recommend 13 Positive 18 Negative 8 |
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Morgan Stanley issued a report, updating its risk-return analysis on WYNN MACAU (01128.HK). The broker raised its target price on WYNN to $9.3 from $8.4, reflecting its upward revision of the group's mass GGR market share forecast for this year from 12.6% to 13.2%. Operating expense forecasts were broadly unchanged, resulting in an 8% upward revision to this year's EBITDA forecast to $8.9 billion, representing 34% YoY growth and equivalent to 93% of 2019 levels. Morgan Stanley raised its EBITDA forecasts on WYNN for 2025 and 2026 by 11% and 8% respectively to reflect higher mass market share, and estimated the group's DPS in 2024/25/26 to be $0.3, $0.45 and $0.5 respectively. The broker maintained its Overweight rating on WYNN. AAStocks Financial News |
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