-
HSBC lifts Sands China (01928) to HK$54
HSBC Global Research lifted its target price for
Sands China (01928) to HK$54 from HK$44, and maintained its "buy" rating.
  The research house said Sands' 4Q 2017 Mass q-o-q growth outpaced VIP for the first time
in three quarters, recording 9% q-o-q and 16% y-o-y. Premium and grind mass collectively 
drove the recovery.
  It added that the accelerating VIP growth in the past few quarters seemed to have
finally begun to spill over into premium mass. This is reflected in stronger volume and
spend, and could have been triggered by a resumption of credit extension in the VIP
segment as more small junkets resurfaced and as the big guys stepped up their game. The
uptick in grind mass is evident in visitations and the crowded gaming floors.
  HSBC lifted its FY2018/19 mass revenue growth expectations to 18%/16% from 14%/12% as it
expects to see further upside to mass growth upon completion of the Hong Kong Macau Zhuhai
bridge in mid- 2018. 

Comments

Post a Comment

Popular posts from this blog

-
CLSA lowers Beijing Ent Water (00371) to HK$6   CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating.   The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not  necessarily bad.   CLSA cut its 2018-19 earnings forecasts by...
Read more
-
Image
Business receipts in value terms of most of the major service industries showed increases of different magnitudes in the second quarter of 2014 when compared with the second quarter of 2013, according to the provisional figures of business receipts indices released today (September 11) by the Census and Statistics Department (C&SD). Comparing the second quarter of 2014 with the second quarter of 2013, double-digit increases were recorded in business receipts of the real estate (+20.7%); insurance (+18.9%); courier (+11.8%); administrative and support services (+10.2%); and warehousing and storage (+10.0%) industries. On the other hand, the retail industry recorded a more noticeable decrease (-7.0%) in business receipts during the same period. Analysed by service domain, business receipts of the tourism, convention and exhibition services domain decreased by 7.5%, whereas those of the computer and information technology services domain increased by 1.1% during the...
Read more
-
Image
HSBC HOLDINGS Further Expands Mainland Biz; Sets up 24 China Desks Stuart Gulliver, chief executive officer of HSBC HOLDINGS (00005.HK)    -1.550 (-1.855%)       Short selling $345.90M; Ratio 13.050%      , said in 2017 results announcement that the Group’s business mix is more oriented towards Asia, improving its ability to channel the economic and social changes taking place within the world’s fastest growing region. The bank continued to expand its presence in mainland China with the launch of new retail banking products and increased lending in the Pearl River Delta. HSBC now have a total of 24 China desks aimed at supporting Chinese businesses with global outbound ambitions, 20 of which are along the ‘Belt and Road’ routes. 
Read more