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Morgan upgrades Wynn Macau (01128) to HK$33

  Morgan Stanley lifted its target price for Wynn 
Macau (01128) to HK$33 from HK$30.5, and upgraded its rating to "overweight" from
"equal-weight" on strong growth momentum, a better dividend outlook, the removed overhang,
and eased concerns over concession renewal.
  With the stake sale by Steve Wynn and Galaxy's investment, most of the overhang related
to Wynn Macau is removed, the research house said. It revised up its EBITDA forecasts for
both the Peninsula and Cotai properties by 6%-7%, and lifted company EBITDA to HK$11.5bn 
and HK$12.4bn in 2018/19.

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