[ET Net News Agency, 20 February 2020] Morgan Stanley raised its target price for Wynn
Macau (01128) to HK$20 from HK$18.5 and upgraded its rating to "overweight" from
"equal-weight".
The research house sees a GGR decline of 21% and a VIP revenue decline of 29% for Wynn
in 2020. For 2H 2020 and 2021, Morgan sees Wynn is better positioned with VIP business to
recover faster than Mass and it has better VIP offerings.
For 2021, it expects Wynn to have the highest VIP revenue growth of 25% among all
operators, except SJM (00880) which is helped by capacity addition.
Morgan expects Wynn to benefit from new capacity additions (West Casino, Encore new
rooms) and a faster recovery in the VIP segment. VIP recovery is predicated on wealthy
people returning to Macau faster, plus China increasing liquidity in the near term. (KL)
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01128 WYNN MACAU
Nominal 
5.180 +0.060 (+1.172%) Others
20/02/2020 17:50
{I-bank focus}Morgan upgrades Wynn Macau (01128) to HK$20
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
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