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Research Report

14/01/2020 09:16

{I-bank focus}Jefferies lowers Wynn Macau (01128) to HK$19

[ET Net News Agency, 14 January 2020] Jefferies Research lowered its target price for
Wynn Macau (01128) to HK$19 from HK$23.8 and downgraded its rating to "hold" from "buy".
The research house believes Wynn Macau's strong brand and product is a key
differentiator that is difficult to replicate by its peers, but the high-end (VIP and
top-end Premium mass) remains under pressure. Jefferies believes this is likely to lead to
Wynn Palace's earnings remaining under pressure with 3Q 2019 having already disappointed.
Further, Wynn Palace phase 1&2 is only expected to begin construction in late-2021 for
2024 completion (phase 2 timing and cost unknown), it added. (KL)

Remark: Real time quote last updated: 28/02/2020 17:59
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