摩根士丹利发表研究报告，预测永利澳门(01128.HK) 2025年和2026年非博彩业务的资本支出分别约占EBITDA的30%和约50%，将对股权自由现金流和股息回报构成压力，加上预测今年中场市场份额将下降20个基点至12.1%。考虑到永利澳门在市场份额、股权自由现金流和股息潜力方面均较同业逊色，大摩目前更看好金沙中国(01928.HK) 、美高梅中国(02282.HK) 及新濠博亚娱乐(MLCO.US)。
大摩将永利澳门今明两年EBITDA预测分别下调1%，至79.7亿元及83.8亿元，即按年下跌3%及增长5%，目标价由6.7元下调至5.5元，评级亦从“增持”下调至“与大市同步”。在濠赌股中，大摩更青睐能够提升市场份额、去杠杆或股息回报更高的公司，对金沙、美高梅及新濠给予“增持”评级。(gc/)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-11 16:25。)
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