Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
01896 MAOYAN ENT
RTNominal up9.560 +0.230 (+2.465%)
Research Report

04/09/2020 14:26

{I-bank focus}Morgan raises Maoyan Entertainment to HK$19

[ET Net News Agency, 4 September 2020] Morgan Stanley raised its target price for
Maoyan Entertainment (01896) to HK$19 from HK$15 and maintained its "overweight" rating.
The research house remains optimistic that ticket subsidy reductions and upstream
expansion should support earnings growth. It estimated ticket subsidies will decline to
30% and 28% in 2020/2021 and remain stable at 30% of movie ticketing revenue from 2022,
sustaining non-content adjusted operating margins at >35% in the long run.
Also, expansion into upstream should increase the total addressable market (TAM) by
4.2x, to US$3.7bn by 2025 and become the new growth driver. Morgan lowered its 2020
revenue forecast by 38% mainly due to a later-than-expected cinema reopen date, while
keeping our 2021-22 revenue forecast largely unchanged. (KL)

Remark: Real time quote last updated: 28/03/2024 16:43
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.