花旗发表研究报告指,澳博(00880.HK) 旗下“上葡京”项目的市场份额至上季持续改善,惟幅度正在放缓。另外,澳博的负债比率有显著改善,但仍然处于过高水平,因此料难以在短期内恢复派息,加上集团所经营的卫星场仍存在不确定性。综合上述因素,该行维持集团的“沽售”评级,续予目标价2.05元。
花旗提到,澳博上季净收入按年增长19%;经调整EBITDA改善42%至9.93亿元,大致符合该行预测的9.96亿,并胜于市场预期2%。另外,管理层指引今年首两个月的赌收按年录双位数增长,而2025财年的开支预计介乎15亿至20亿元,又对卫星场业务模式改变可能带来的影响保持乐观。(sl/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-04 16:25。)
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