Wynn Macau (01128) rose more than 4%, reaching a high of HK$8.1 since July 2023. As of press release, it rose 4.13% to HK$8.06, with a turnover of HK$86.11,117 million.
The Zhitong Finance App learned that Wynn Macau (01128) rose by more than 4%, reaching a new high of HK$8.1 since July 2023. As of press release, it rose 4.13% to HK$8.06, with a turnover of HK$86.11,117 million.
According to the news, the Lyon Research Report pointed out that the company performed well in the first quarter. Property Ebitda grew 14% quarterly to HK$2,649 billion, 7% higher than market expectations and 3% higher than the bank's forecast. The management of Wynn Macau said that despite the bad weather, the May 1st Golden Week performance was still encouraging. In terms of market share, the gaming revenue market share increased by 0.9 percentage points quarterly to 14.7% in the first quarter.
According to the J.P. Morgan Chase Research Report, the “additional” rating was given to Wynn Macau, believing that this mainly benefited from an increasingly strong midfield and strict cost control. The target price increased 5% from HK$10.5 to HK$11. The company's business performance was strong in the first quarter of this year, and the bank is now fine-tuning its model. The Group raised its 2024-2025 EBITDA forecast by about 3% to reflect better-than-expected profit margins.