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<Research>JPM Predicts MO Oct GGR to Reach 6-Yr High MOP23B+, Prefers GALAXY ENT/ SANDS CHINA LTD
Recommend 20 Positive 32 Negative 10 |
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JPMorgan has released a research report forecasting Macau's daily average GGR to exceed MOP1.1 billion during the first five days of the National Day Golden Week, compared to last year's MOP1.08 billion. It is even possible to catch up to the pre-pandemic level of MOP1.16 billion. In the broker's estimate, demand at the end of this year will be more sustained and robust, pushing Macau's daily average GGR in the second week of October to the MOP750-760 million level, compared to last year's MOP643 million. The first two weeks of Macau's GGR are anticipated to average MOP930 million per day, compared to last year's MOP846 million. The GGR for October is likely to rise by 11-13% YoY to over MOP23 billion, marking a six-year high. Favoring GALAXY ENT (00027.HK) and SANDS CHINA LTD (01928.HK) among Macau casino stocks, JPMorgan rated them as Overweight, with target prices of HKD24.5 and HKD54, respectively. AAStocks Financial News |
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