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<Research>CICC: MGM CHINA (02282.HK) 1FQ Results Beat Forecasts; Rating Outperform
Recommend 7 Positive 10 Negative 14 |
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MGM CHINA (02282.HK)'s 1FQ24 net revenue rose 71% YoY to $8.258 billion, recovering to 143% of the same period in 2019, CICC issued a research report saying. Adjusted EBITDA increased 77% YoY to $2.505 billion, recovering to 155% of the same period in 2019, beating the market's expectation of $2.372 billion. Taking into account the Company's better-than-expected growth, CICC raised its 2024/ 2025 adjusted EBITDA forecasts for the Group by 3%/ 1% to $8.502 billion/ $9.809 billion. CICC kept its target price at $18.8, with rating at Outperform. AAStocks Financial News |
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