MGM CHINA (02282.HK) +1.080 (+7.759%) Short selling $5.60M; Ratio 2.758% 's 1Q24 results beat expectations, Goldman Sachs released a research report saying. Property EBITDA rose 14% QoQ to $2.5 billion toward the high-end of the market's consensus range.
After adjusting for lower VIP win rate, EBITDA would reach $2.67 billion, up 22% QoQ, thanks to lower daily operating expenses. The Group's overall GGR market share increased by 0.8 ppts QoQ to 17.2%.
Taking into account the Group's YTD GGR and market share trends, Goldman Sachs adjusted its FY2024-FY2026 EBITDA forecasts by 11-14%, and elevated its target price from $14.4 to $16.5, with rating at Neutral.
Goldman Sachs also expected GALAXY ENT (00027.HK) +1.400 (+3.867%) Short selling $27.55M; Ratio 5.020% , SJM HOLDINGS (00880.HK) +0.070 (+2.381%) Short selling $1.69M; Ratio 9.701% and Melco Resorts & Entertainment Limited (MLCO.US) to perform better, all of which rated Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-03 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
