Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
RTNominal unchange5.320 0.000 (0.000%)
Research Report

24/05/2021 17:37

{I-bank focus}Morgan cuts SJM Holdings (00880) to HK$11

[ET Net News Agency, 24 May 2021] Morgan Stanley cut its target price for SJM Holdings
(00880) to HK$11 from HK$13.5 due to the lower 2022 EBITDA and maintained its "overweight"
The research house now expects Grand Lisboa Palace (GLP) to only open its VIP operation
in 2022 (previously 2Q 2021) but Morgan continues to expect it to open Mass & Slot
operations in 2Q 2021. It also modeled it to only open its 1.4K Lisboa Palace hotel rooms
in 2Q 2021 while its high-end rooms of Versace and Lagerfeld may only open by mid-2022.
GLP should make minimal EBITDA in 2021 if factoring in the pre-opening expenses (mainly
staff costs at GLP), Morgan said. This, as well as the slower recovery of industry GGR,
results in 97% and 14% lower estimates for 2021 and 2022 EBITDA. (KL)

Remark: Real time quote last updated: 02/12/2021 12:10
  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 2021 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.