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<Research>HSBC Research Cuts SANDS CHINA LTD (01928.HK) TP to $20 on Lack of Short Term Catalyst
Recommend 9 Positive 14 Negative 12 |
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HSBC Global Research issued a research report lowering its 2024-2026 revenue/ EBITDA forecasts for SANDS CHINA LTD (01928.HK) by about 1-2%/ about 2-6%, respectively. In the short term, HSBC Global Research believed that the Group may lack a catalyst, and that disruptions caused by the Londoner's renovation could harm the base quality accordingly. SANDS CHINA LTD's management acknowledged that it stepped up its reinvestment plan due to the need to sustain demand during the service disruption period, HSBC Global Research added. However, HSBC Global Research believed that the Group is not highly valued, and kept its rating at Buy. The broker also cut its target price to $20 from $21.6. AAStocks Financial News |
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