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01128 WYNN MACAU
RTNominal down13.520 -0.060 (-0.442%)
Research Report

22/07/2020 11:33

{I-bank focus}HSBC reduces Wynn Macau (01128) to HK$15

[ET Net News Agency, 22 July 2020] HSBC Global Research reduced its target price for
Wynn Macau (01128) to HK$15 from HK$16 and maintained its "buy" rating.
The research house said raising its junket commission to match its peers on Cotai helped
in defending market share in an incredibly tough operating environment as evident in
Wynn's 1Q results.
HSBC continues to expect the VIP segment to recover first as demand starts to grace
Macau again post COVID-19. Its premium positioning and high-end products should put Wynn
in a better position to capture incremental growth.
Like MGM China (02282), the key challenge lies in how to defend market share amid new
openings in FY2021. HSBC cut its FY2020-21 EBITDA forecasts by 94% and 11%, due to its new
market growth assumptions. (KL)

Remark: Real time quote last updated: 18/09/2020 17:59
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