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<Research>Citi Raises MGM CHINA (02282.HK) TP to $18.35 as Margins Continue to Improve
Recommend 5 Positive 6 Negative 3 |
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Citi Research issued a research report saying that MGM CHINA (02282.HK)'s another record-breaking quarterly results not surprising, but it was surprised by the Company's EBITDA margin of 30.3%, as compared with Citi Research's earlier estimation of 29.4%. Management remains committed to maintaining its market share at around 15%, and its margins at a high level of around 20%. Citi Research raised its target price from $17 to $18.35, taking into account the Group's latest business trend, with rating kept at Buy. Citi Research believed that the Group will benefit from the early adoption of smart gaming tables for most of the year, which will help gaining market share in the long run. AAStocks Financial News |
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