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<Research>JPM Sees Upside Potential in MO Oct GGR, Prefers WYNN MACAU in Near-Term
Recommend 22 Positive 30 Negative 28 |
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For the first 26 days of October, Macau's GGR reached MOP20.4 billion, averaging MOP785 million per day, and last week's GGR even accelerated to MOP793 million, JPMorgan wrote in its research report, citing industry surveys. The broker highlighted a clear upside potential in October's GGR, which could push it to a monthly total of MOP23 billion, a 71-month high. In the short term, JPMorgan favored WYNN MACAU (01128.HK) and gave it an Overweight rating, anticipating that its 3Q25 results might beat expectations. In the medium term, the broker remained optimistic about GALAXY ENT (00027.HK). Its rating was also kept as Overweight. JPMorgan was most bearish on SJM HOLDINGS (00880.HK) and MELCO INT'L DEV (00200.HK), giving them a Neutral and an Underweight rating, respectively. Both companies had relatively high valuations compared to their fundamentals, and their shareholder returns would be very limited over the next 12 months. AAStocks Financial News |
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